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Technology Stocks : Amazon.com, Inc. (AMZN)
AMZN 233.23+1.8%12:59 PM EST
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To: Bob Duncan who wrote (47330)3/25/1999 7:03:00 PM
From: Sarmad Y. Hermiz  Read Replies (1) of 164684
 
Bob,

>> I assume no one is negative on AMZN anymore? I have stayed the
hell away from this stock until at close today when I bought some
Puts. Everyone is so positive about tomorrow though I am
beginning to regret buying the puts.
<<

I lost a small fortune shorting amzn. Then recovered half of it. For the last month I have been trading amzn successfully both long and short.

Of course you know with amzn, timing is everything. Your puts could work, but not tomorrow. Please don't trade amzn based on traditional fundamental analysis. No one cares about that.

my assumption has been that amzn will cycle between 120 and 140. I have been trading it this way for three weeks. It looks like the range got extended yesterday to down side, and perhaps tomorrow to the up side.

One person on this thread who has been successful with amzn is Jan. Her opinion is that amzn is driven by 1-institutions, 2-brokers, 3-daytraders, 4-short sellers.

#1 and 2 are still very upbeat. but #3 switch back and forth. And #4 are at the mercy of #1, 2 and 3.

I personally think that everyone who wanted to buy amzn has already bought it. There may be a few momentum players who will buy the gap up tomorrow. But I think after that it will stall in the 130's for a few days again. I personally will bet a 100 shares this way. But you have to evaluate your own risk and study it for yourself.
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