The stock multiple makes no sense. Amazon is great at growing sales, but can't make any money at it. I could sell plenty of dollars if I priced them at .99 cents each. That said, I still would not short the stock because of the many people that still love it. At some point though, it has to tank.
They said the Fed was done after QE1, and then they said the Fed was done after QE2 and then they said the Fed was done with operation twist aka QE3, and then they said the Fed was done after operation twist part 2 aka QE4 and now they say the Fed is done after doing QE3 aka QE5....what makes you think the Fed will not do QE6? How many Friday the 13th movies are there? Hollywood and the Fed do have that in common, the ability to make the same movie over and over again. I expect QE6 to happen before May of 2013, and Amazon to be trading over $350 with a P/E over 5000.