This market has really come unhinged- remember when it went from NASDAQ 3000 to 4000 and then 5000? I am eating my losses at COB today and forgetting about this for a while- fundamentals are still poor but it's going higher.
Time to buy more puts. This time 25s Jan 09. As I have said before, I am betting on BK, though so far I have a nice profit just on the bumps up an down.
1) AMZN seems to be complacent about advertising their site. 2) They have no direction. Search engines, bulk storage groceries, etc., are not in their main line of expertese. 3) Bezos talks like an idealist. Not right for business. Wheels going round, momentum, etc.. 4) 3000 new hires will spend money and it won't come back. 5) Announcing share buy back when I do not see the source of money to do it. 6) They had a TV special on AMZN a while back and we saw Bezos going through the plant talking to his workers by name. OK for a 10 Million company but probably does not work for a 10 Billion company. The appearance was not what I would expect. Too messy to keep track of everything. 7) Watch for a big write off.
I still think they will suddenly run out of money and explode. We shall see.
I hear that, but there's a point where the market just isn't rational anymore- this is sheer madness right now- absolutely anything remotely positive is trumpted to the high heavens and negative news is spun as positive because of interest rates- don't people care about ACTUAL FUNDAMENTAL VALUATION METRICS? I'm so screwed from betting against this mania.