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  • SundayTrader SundayTrader Apr 14, 1998 12:22 PM Flag

    I've tried to sell AMZN short several ti

    and could never do it. How are you guys able to do it? I'm using Charles Schwab.

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    • Bought some May $95 puts today. I have to have faith in a rational mkt eventually correcting this mania. When the puts do payoff, it will be large and more than make up for my losses so far. Congrats to all the longs - so far the mo players are winning the battle.

      • 2 Replies to bfrd
      • Most value investors know that the action in Amazon is
        a JOKE and that's exactly why the shorts are getting their
        clocks cleaned. Nothing will cause a material drop in this
        grossly overpriced stock as long as the heavy short position
        (over 3 million shares) gets substantially reduced OR the many
        insiders who have filed to sell, SELL.

        Many internet stocks (earnings or not) have huge momentum.
        For these companies to generate earnings to support their
        current price with a reasonable PE every human on earth
        would have to go on-line and use their product, and we know
        that won't happen. Despite the negative press from IBD,
        Barron's, the Online Investor, and the company itself, the
        momemtum players and short squeezes are running AMZN
        to the moon and it will keep running.

        Buying puts seems to be the rational thing to do BUT this is
        not a rational stock. Someday, you'll wake up and find Amazon
        down $20, but that may be next year. Don't try to rationalize
        this stock because it's irrational. Read the news from the
        Online Investor yesterday.

      • the rumor is leaking out that AMZN sales will exceed 100 million for Q1....the number will be out next week

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