According to amazon short interest is only 2%. With such a low number how can we expect Amazon to gap up after earnings of 1 billion dollars?
We need the shorts to get squeezed, to see this juggernaut hit 400. Sure it could hit 300, but a mere 17% gain is not what any long term share holder is looking for.
$300 is only a 5.6% gain from here, not the 17% you stated - my bet is this falls to $270 or below before earnings as smart longs bail out before they lose big. I'm riding my short through earnings because I expect this to lose additional 15% after earnings to take stock price to $229 or below.