>>Have you taken any position in AMZN recently? I'll check your profile, but are you a trader, day or otherwise? Or maybe you have staked out a long-term short position?<<
No position at the moment. I shorted AMZN about nine months ago, and covered for a $5,000 loss before it got ridiculous. I have not ventured back in since then, as the volatility and unpredictability is insane on this stock. I can't recall another stock that has had such swings, and is so hype-driven. I will patiently wait until the fever has broken, and then make the sure money as it heads to the low teens where it belongs (provided no further splits have taken place).
You are mesmerized, as are many others, by the attraction of a stock that seems to magically defy all logic and financial common sense. But sooner or later, the haze will clear, they will report yet ANOTHER quarter of losses, and the dream will go up in smoke.
Amazon is without a doubt one of the most ludicrously overvalued stocks of all time, and in the end, you and everybody else will be forced to swallow the hard truth. My advice is to take a profit immediately, if you have one, and consider yourself lucky that you got out on the plus side - many will wish they had when it's all over.
Ciao |
