It's what happens when a short covering run pumps your stock up over 30% simply because they had a decent quarter and beat a hugely watered down number. Here's a better question: do you seriously think that when AMZN got artificially pumped from 90 to 120 in a matter of less than a week, that that buying was buy and hold value investors saying, "geee, this stock wasn't a bargain at 90, but whooopeee now it's a great value at 120'?????? Answer: the buying was short covering, it was not real accumulation of positions except by momo chasers and I'll assure you those momo chasers with a clue have alreadyleft this one. Now there is no real buying conviction left to prop this bloated etailer up. That in a long nutshell is what is going on. If you bought at 120 thinking that short covering was going to last indefinitely or that "Buffet Type" buy and hold guys suddenly think its a good value at $120 with a PE of almost 70 - well, you better try another trade if that's the case.
because insiders are selling and no buyers.. that would drive stock down for sure.. I have a watch list of many stocks..all green but 2, RIMM and SCAMAZON.. major indexes are up >1.4%.. who wants to own AMZN at this price ??