Insider transaction reports that Amazon's fearless leader Jeff Bezos recently sold 1,000,000 shares of Amazon stock. Other directors have also sold stock. I think the rats are abandoning a sinking ship.
I agree with your analysis. However, I prefer to try to trade it closer to the extremes at the risk of missing the turn. My decision relies on my belief that
the market has no clue how to price stocks. That is why I shorted Amazon.
I am pretty much in agreement with your posts but the problem is that in a correction or a bear market, prices just keep going lower. In the short term, the market is not always rational. I sold
a lot of my stocks including some of my NWLI but NWLI is still by far my largest position. I will
buy a lot more NWLI at lower prices but I imagine it will be some time before I am interested buying.
I covered about 40% of my AMZN short this morning at about $362.50 and it was my most successful short ever. I will now hold on to the rest of the short because I think AMZN will go down more. I have made enough money on the fraction of the short that I covered so that I won't
worry too much about it anymore. This episode in shorting AMZN has been much better than another one about a year and a half ago when I shorted AMZN on a Friday at $192 and covered it on Monday at about
$205 when Morgan Stanley repeated its buy on AMZN and increased its target price for AMZN to $250. With my cover this morning, I recovered
my loss plus about 100% more.
Counting yesterday only, Under Armour was a worse short than Amazon. Today amazon is a great short and I covered about 40% of my short at about $362.50. So it qualifies as my most successful short ever.
ANAT and NWLI have been great stocks for me and I need to thank you for mentioning ANAT to me. I never would have found it on my own and I found NWLI through following
ANAT. So thank you very much.
Well my average short sale price for AMZN is about $390.00 so it has not been real fun for the last month, but I am slightly in the money now and if investors begin to understand that companies actually have to make money to be successful, AMZN could take a real hit.
Well, we are busy bailing out of the market because it is getting killed. I think the market is not going to have another year like last year. I have sold a lot of my stocks. Now have 2 longs and one short. It is becoming very difficult to sell without driving down the price of the stocks you are trying to sell. Liquidity is a thing of the past. Tomorrow my short, AMZN reports earnings and I hope it dies.