Well I have to hand it to myself. I carefully waited to jump in and short this overpriced ponzi scheme called AMZN, and did so today for the first time. The reasoning is VERY simple. Today, 4/14/98, I sat down and set as a goal to make at least 70% from the share price movement of AMZN. I asked myself, "How can that best be achieved?"; which is more likely to happen: will AMZN fall back to at least the $30/share level, or will it go to $165/share. The answer to that is quite obvious to anyone who knows even a little about the stock market. AMZN WILL SEE $30/SHARE BEFORE IT SEES $165/SHARE. How can anyone in their right mind be long on this stock, come on, I mean out of the THOUSANDS of other stocks out there with far, far better fundamentals then AMZN; is this really the best place for your money? NOT A CHANCE
Glad you finally got the stock to sell short, BUT I seriously doubt you'll be able to ride it to $30. Remember you SOLD stock owned by someone else, and when they decide to sell, you buy. They may decide to sell when(and if) stock stock goes to $125 (unlikely but probable in this mania) SO don't smile too BIG just yet. When stock tanks (and it will someday), the owner of your shares will probably sell and that's the price you buy it back.
Only true bearish position, with limited downside (the size of your position) is buy PUTS but the premiums are HUGE. Good Luck!