I think you and Cramer are making a poor bet.
I think Cramer is making the double mistake of taking a high-profile short position when he has a fledgling reputation at stake, and has rivals probably now itching to run him in. "Hey world, this is Cramer, budding cyber-threat to Dow Jones, and I've just bet my reputation shorting the strongest stock in America based on a weakening competitor's financing play!" Bad form Cramer.
Now, people here are probably thinking to themselves, "What the hell does Harmond know! This is Cramer! He moves markets!"
Well, Asia's down, and Cramer has clout, so Amazon could go down tomorrow.
Russia or no, I think the US market is finding a bottom, at least short-term, but probably intermediate term. I don't think this is any time to be shorting stock, particularly the strongest stock there is. I'm as paranoid as anyone that we could have a leadership change, but the fundamentals of Internet issues is sound, the economy is slowing, and lower rates next are a certainty now that the yield curve inverted Friday. I don't think it's pure coincidence that the Internet stocks took off last year just as Asian currency and equity markets started cracking and the US market breadth started unwinding.
>>Shares are always difficult to come by at the height of a squeeze.
The height of the squeeze was the morning of 7/7. Since then Amazon had a 35% correction followed by a successful retest. I say successful because Amazon has now scored record relative highs to the market for two weeks running...in spite of the Barnes and Noble spinoff news this week. Such a formation could be an ascending wedge (bearish) and a huge setup for the longs. If that's the case, you are very right and my speed-dial is cocked.
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