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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.22+1.8%Nov 28 9:30 AM EST
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To: H James Morris who wrote (16070)9/4/1998 10:55:00 AM
From: OtherChap  Read Replies (2) of 164684
 
The people behind Amazon will do anything to keep you from shorting it. First of all, most brokerages never have shares, at one point the stock was declared "unshortable" by the SEC.

Now, there are literally 25 dollar premiums on all the puts. Not like last week when it was around 12 dollars.

The earlier poster was correct, now that the MMs see that everyone is making a killing on puts they're doing all they can to make sure nobody makes a profit there either.

The only problem is they can't find anyone to actually buy the shares, so the stock just sits there. No profit for anyone anymore.

Having said that, I think a lot of people are going to bail from this stock in advance of the three day weekend.. Should see a 50-100 point sucker rally on the dow around lunchtime, then a quick and sharp selloff into the close as daytraders liquidate their positions.

One last thing, I am absolutely positive that the reason your average retail investor (web trader) buys this stock is because everyone "thinks" amazon is actually making money. I asked several of my computer-geek friends this weekend if they had heard of Amazon, and they ALL said "Yeah, its the one internet company that is making incredible profits."

It's almost an urban legend among idiots who can't read quarterly reports- and THAT is where the retail support comes from.
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