Amazon.com, Inc. (AMZN) Message Board

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Technology Stocks : Amazon.com, Inc. (AMZN)

AMZN 231.69

+1.7%

Dec 10 3:59 PM EST

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To: Jan Crawley who wrote (55150)	5/4/1999 8:27:00 PM
From: Miche Elle	Read Replies (3) of 164684

>>Shorting via shares or puts?<< I short via shares (hedged by calls). >>When will the puts take profit?<< That depends (among other things) on what price target they may have set for themselves if they are "long puts" and their evaluation of the immediate downside potential of the underlying stock, the sector and the overall market -- then there's premium erosion, and lots of other factors that can affect profit-taking. >>Few puts traded today.<< The volume of in-the-money and near-the-money puts ranged from approximately 1300 to 1500 contracts today. That's far from chicken feed. >>Bondholders<< What the bondholders do or don't do matters very little to me within the scheme of things. One's focus seems better spent evaluating the tone of the overall market, the tone of the tech sector, and the tone of the specific issue (AMZN) in terms of more signficant technical and fundamental factors that could impact the stock. A lack of forseeable earnings for a highly priced stock in a nervous market is a far more reliable indicator of the direction of the company's stock over the near term than what the bondholders are doing IMHO. Sometimes we try to over-analyze too many details and we lose sight of the forest for the trees. :-)

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