COMS and ASND proved to be a scourge to people who were shorting these stocks and mocking my year projections at 50 and 75 respectively, one down one to go COMS will not exist the way we know it.. gobbled and taken up like ASND,, on AMZN-- I really don't know these vertical kind of moves but since I am good at identifying the 'threshold of pain' I realized very quickly that day that 'longs' pain threshold has been violated when AMZN and Yahoo had hit 92 and 260'ish or little higher. the longs had all thrown in the towel. this in my terminology is called as 'bull punga'like my bhumbo which is reserved for the bears, this my unique proprietry product 'bull punga' was meant for internets longs. those who were going crazy after new highs were being made every day..
I did warned them of the impending disaster but it was considered as one of the Ike maverick 'excesses' as 'he' wants to scavenge his lost put premiums.. No it was not about premiums the 'pre warning of bull punga' was ignored and within 72 hours we saw AMZN at 92, cut to size..from 199 and Yahoo from 465 to 250 and change..
I really decided to apply myself without looking at the fundamentals on this 'bulls or longs threshold of pain' theory that holds like this-- after premature death of 'bhumbhoree' my short expectations of testing 1890 on composite failed, it was nice to see that 'bull punga' worked fine..rather too fine.Bhumboree is not dead she is just relaxing and I will bring her out some other day..gg
Three days of indiscriminate selling and longs losing half of the positions at that level even a lion hearted long gives in, that is the point that is a reversal point. I saw one lately at ‘1320 on composite on 8th of Oct the 'bears' start jumping from the windows in extreme ecstasy, as they see their levels where they were short right next door, but instead of covering they double the short and it is here at that point, I move in and put my net..
Fishing the opportunity, fishing the fear and fishing the greed.. By the time the shorts realize the party has moved out of their range and you see AMZN and Yahoo at new levels far above where the shorts doubled. this is just like Brazil a trade where market extremes are reached and a trader makes his big move of the month for me I don't even know this month which has been my best move, the month has been pure lethal from OSX pick of the bottom to BKX pick from 799 to 872 and SPH capitalizing back to 1220 on expiry and picking Brazil from 4880 and JPN index at 13200 -- all of these with SAP and others make me to think, this is market where extremes need to traded.. AMZN story as I can see it is as follows..
Whatever you can make of it.. it looks like well bid on the opening.. how far it goes is anyone's guess but I will ride it as far as 458 on DOT is maintained or Yahoo 320 is not taken out whichever is first I get out. never like to take more than what market is ready to give...love..
Amazon Tops Analysts' Estimates,
Sets Ambitious Plans for New Year
An INTERACTIVE JOURNAL News Roundup
Amazon.com Inc. reported a narrower-than-expected
loss for its latest period as revenue soared, fulfilling
expectations the company set earlier this month. And the
company set an ambitious plan for 1999, saying it
intends to become "the world's most customer-centric
company."
For its fourth quarter, the Seattle online retailer reported
a net loss of $46.4 million, or 30 cents a share,
compared with a net loss of $10.8 million, or 8 cents a
share, in the year-ago quarter. The just-ended quarter
included $24.2 million in merger- and
acquisition-related charges; excluding those charges,
Amazon reported a net loss of $22.2 million, or 14 cents
a share. That topped analysts' consensus expectations for
a net loss of 18 cents a share.
Revenue, meanwhile, jumped to $252.9 million from
$66 million in the fourth quarter of 1997. Earlier this
month, Amazon said it would report sales in that range.
Amazon said cumulative customer
accounts increased by more than
1.7 million during the fourth quarter to more than 6.2
million as of Dec. 31, 1998, an increase of more than
300% from 1.5 million accounts at the end of 1997.
Repeat customer orders -- a key indication of
e-commerce's staying power -- represented more than
64% of orders placed during the quarter.
During the fourth quarter, Amazon said its music sales
grew to $33.1 million, a 130% increase over sales of
$14.4 million in the third quarter. * Video sales -- which
began Nov. 17 -- were also described as strong.
Combined, Amazon said, these "expansion areas"
accounted for 25% of consolidated fourth-quarter sales.
Combined sales in the U.K. and Germany, meanwhile,
nearly quadrupled over the third quarter.
"We have one strategy at Amazon.com -- provide the
customer with the best shopping experience," said
Amazon founder and Chief Executive Jeff Bezos, who
hailed "an incredible holiday season and an exceptional
year."
Mr. Bezos took the opportunity to make it clear that
Amazon's ambitions were hardly declining as the
company looked to 1999.
The company intends to "build out a significant
distribution infrastructure," he said, and will also
"continue to enhance the scope and quality of the
products and services that we provide to our customers."
"Amazon.com is still a small and young company
relative to many offline retailers, and we must ensure
that we build the strongest customer relationships
possible during this critical period," he said. "In 1999,
we expect to invest even more aggressively than we
have in the past. Our goal is nothing short of building the
world's most customer-centric company."
Amazon had told Wall Street early this month that while
its fourth-quarter revenue would be about $250 million
-- well above analysts' projections -- its bottom-line
results would be roughly in line with expectations due to
margin pressure.
That put a lid on any whispering about the company's
fourth-quarter numbers. Amazon posted a split-adjusted
loss of 8 cents a share in the fourth quarter of 1997.
Amazon's $250 million revenue estimate came as a
disappointment to some overzealous investors who had
pushed the company's stock up sharply in the preceding
weeks and were hoping that strong holiday sales on the
Web would push revenue above whisper estimates of
$300 million.
But the revenue projection from the company was still
above even the most optimistic outlooks of most Wall
Street analysts, who maintained that $300 million was
never a realistic number. Most analysts had official
revenue projections somewhere in the range of $170
million to $190 million, though most expected the
company to do somewhat better.
"They were well in excess of what I had published and
even my own inklings of upside," Volpe Brown Whelan
& Co. analyst Derek Brown said before the earnings
were released.
Despite the better-than-expected revenue number,
Amazon cautioned earlier this month that significant
sales of music and videos -- which have lower margins
than books -- hurt margins, as did pricing pressure.
Amazon also blamed the margin disappointment on
higher "fulfillment expenses," referring to the costs the
company incurred to make sure orders were filled on
time.
Concerns over pricing pressure in the e-commerce
business have pushed down shares of Amazon and other
online retailers in recent days. Still, BancBoston
Robertson Stephens Inc. analyst Keith Benjamin
maintained that Amazon's well-known brand name and
its expertise in filling orders gives the company a huge
advantage in attracting customers.
"It's not about price," he said. |
