Day two, Introduction to shorting Internet giant Amazon. After what was thought to be bad news (a disappointing revenue figure Vs whisper) the stock slumps on the open 7%. Then a few analyst state the whispers were overstated (Hmm, the past couple weeks of postings by bulls on SI had them around 300-450). Anyway, the spin rejuvenates the Amazon stock, and it climbs 7% while the other E-commerce stocks continue their decline. Almost as though they were suffering from Amazon's announcement.
I'm beginning to see a pattern, drag in shorts with the illusion of a fault--you know, the big burst of the bubble. Then drive-up the price and let the short covers help the artificial float. Next day, repeat. I would like to think my conspiracy theory has merit. To think otherwise would legitimize this crazy stock as a good long-term investment.
For those interested, today's float did not hit my ejection handle. I'm still proud and short although a little light in the pocket <g>. I still hope to be here when the shorts get there turn at the helm. The only sign of hope was the relative finish of Amazon below its high for the day, as if it matters on this stock.
One last item. Volatility players, by boxing do you mean straddle or is boxing a hybrid of the straddle? I'm looking into this avenue of play should I come out this short with any money. Please forward responses on technique via private email.
Congratulations to the longs and Volatility positions! Sorry for the verbosity.
Daytrader, your petty attempts to induce short holder capitulation by load noise, will not work on the SI threads, try Yahoo!
Bob |
