that they bailed on 50% of their position today and that any close under 89 and they are gone. they had a cost basis of $60. he feels the stock will retrace to the 50 -60 level. what a case of the writing on the wall.
My guess on positive earnings for AMZN
is NEVER. Too much competition in internet
book sellers and more arriving on the scene
every day. BUT AMZN's stock has risen
from $15 to $100 (last week) while the company
continues to report greater losses, so who
cares about earnings anyway? Not the people
who buy this grossly overpriced stock!!
the trendline from early March that has supported the move from 70 to 100 is now broken.....a confirmed move below it tomorrow could cause HEAVY profit taking into the wwekend, all the way back to 70...........;^)
I own a lot of May 90 puts. I sure hope Pedro's correct and the stock acts accordingly. If so, let's talk. I'll be able to afford to keep a lady. I live near the beach and love outdoor sports. If you're in love, I don't want to waste your time. Thanks anyway.
I'm always wrong on AMZN. This was put together (IPO) and has stuck well beyond any expectations. Watch out! When they announce earnings (HA), I bet they will announce something else! BIG! My guess would be some "alliances" that will pop this weasel again. These guys aren't sitting on their hands when there's 200,000,000 more shares on the horizon to be sold (swapped?) for the company. This stock won't go down easy!
Part of the reason the fool.com likes amazon is they expect them to branch of into other areas. Well, there is going to be a whole slew of competition. I expect stores like wallmart.com, kmart.com ect.
Amazon is going continue to rack up losses.
Other stores that have real sales can afford to take losses on their products to undercut amazon (if they have to).