So much for your gap down opening on Monday prediction, eh? Today's graph almost looks like just the opposite (at least for this morning).
As with most predictions, you had at least a 50/50 shot at getting it right. Hopefully you're not convincing any new investors to gamble with their money based on the flip of a coin.
I seem to recall AMZN hitting resistance previously and then finally breaking through to new highs (I think someone on this board claimed that it could not break through resistance at 85-87). Don't be so sure that it can't happen again. Absolutely nothing to do with fundamentals - just a fact of the current market in this and other net stocks.
At this point, I wouldn't recommend any position in any internet stock to anyone, except as pure speculation. For patient and brave investors, I'd say a short position (a small one, relative to your total account balance) would probably be a good bet.
Yeah, AMZN could go up 50%. It could also go down 50%, and no one can predict it right now. Too many wild-eyed speculators.