I don't think it ever got that high in the algo trading last night but he did predict $340 by October earlier today. I guess that could happen if investment houses have to take a bunch of money poring in but I think most likely the markets are closer than their highs to their lows for the year. The whole argument about not earning any money outside the market with 0% returns is easy to explain against. 0% is better than negative 20 or 30%, unless you are short of course, in which case you have a 20%-30% return or more. :-)
If the markets are indeed weak going forward I don't think AMZN will have an honest shot to buck the trend. I think lower than here is in the cards by then and possibly a lot lower than here.
I just heard them say call buyers were much more active here than put buyers on CNBC. Well, that makes perfect sense since this stock is always gamed up. Uh, then again, which I viewed as a positive sign to a negative trade, we had bruce and nas and skidaddy out crowing yesterday on the fake rise all week.
bruce said earnings never matter for Amazon only revenue growth does. Well sometimes revenues don't even matter but for one day they did because they missed revenues slightly and they guided down a fair amount.
I've said it many times with greater fool stocks there is always that chance that they'll love it until they hate it and when they hate it gravity takes over.
Has Amazon seen it's lows? I don't think so but the algos better start siphoning in some of that Japanese money along with some Benny bucks if you are long.