Random musings...
In many ways if you haven't been long this stock, this whole thing is like a bad dream. Whether you were short or just wanted a reasonble pull back to get in. It seems that since June, every time it started to look like things were going to get more reasonable, they get more unreasonable.
There seems to be no end to some news announcement from somewhere that will prime the sector. And folks in spite of the insane runup of the last 5 days, we may not be done. There is a possible YHOO or EBAY stock split hanging over the sector. What does this have to do with AMZN, you ask? Nothing yet everything. What did Blodgett's 400 price target on AMZN have to do with BAMM? yet BAMM doubled on the news, quadrupling AMZN's percentage gains that day. Today ONSL and YHOO annouce a deal that could be devastating to EBAY, and EBAY goes up more! It's amazing proof that "if we all believe it's good, then it's good" I mean what would be your guess on AMZN's trading tomorrow if EBAY announced a 3 for 1 before the market opened. If AMZN was premarketing around 320, it would immediately gap to 330 and probably hit 350 intraday, right? It's like we all know this, yet we also know it makes no sense. So at 340, now we're done, right? We'll we might get an intermim press release on Christmas sales to date. Might come from Yhoo, doesn't really matter. Then in 2 weeks, Yhoo's earnings lead off the season. If Yhoo beats their number, should be good for another 20 on the thing right? And so it goes. |
