Getgo, I realize that your post was for Glenn, but since its Sat morning and I'm not day trading, let me give you my 2c.
I don't believe that the 'Things' stock price is about books anymore.
Its about Internet e-commerce, while B&N and borders are and will always be perceived as Books, books and more books.
The strength in Amzn's stock price comes from the fact that Amzn is part of America's dream team. Aol, Yhoo and the 'Thing'.
Wall Street appears to be telling us that 5 years from now Amzn will own a huge chunk of e-commerce. In fact, it looks like Bezos will be a processor of online sales transactions for other merchants, and might well be out of online commodity selling all together.
If you can't sell a commodity for ever, without making a profit. Why bother?
Regarding price. Yes Amzn is not the cheapest and they have stated many times that they don't intend to be.
Bezos say's that he's all about customer service, trust and his brands recognition. For that! All of us investors have made him a multi-billionaire, but some people here, would prefer him to make a profit first.
Regards
Ps
In the mean time its a day traders dream. Up 10, down 10, up 10 down 10, up 20!!!!
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