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.
dsouth7777 and batraa:
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.
Yes it has been a long time.
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.
I own both ANAT and NWLI, so I have known of ANAT's strong stock price performance. Actually, it has been much better than you have said if you go back farther. I bought a good bit of ANAT in October 0f 2012 at around $65. The market price was way too low then. I think NWLI's stock price is still way too low now and I have been buying more of it.
I agree with your statement about Mr. Moody. While I wish NWLI had bought its stock back around $140, I think they have managed the company very well. The management is not responsible to see that the stock trades at a high price. If the market doesn't appreciate the company it is probably the fault of the investors. I have put my money where my mouth is and I bought a good bit more NWLI today. Sooner or later the market will come to its senses.
According to Yahoo NWLI traded 15712 shares today which is a large figure compared to its average volume.
However, the price didn't move very much in either direction during the day.
Earlier this year I sold some of my stock but now I am a buyer again. I bought some today at $205.49 and I also had another limit order below the market which did not get filled. I think the price is simply too low relative to other stocks or fixed income returns. Technical analysts say that the volume increases before the price changes. I expect that to happen here and I am trying to increase my position materially before the price goes up a lot.
I didn't get to the computer until later in the trading day and when I entered a buy order, someone else kept outbidding me as I raised my offer. So, I only got a partial fill.
FWIW, NWLI's sister company, ANAT, had a pretty good 3rd quarter report but it included a good amount of capital gains. I don't know if ANAT's report is any indicator of what NWLI will report. ANAT's report didn't do much for its stock, but I bought more ANAT today as well.
My post was incorrect. Ross is the COO. I would be more encouraged if he believed enough in NWLI to hold on to the shares he acquired through options.
Well, NTN's book value is about $.10 per share and if I subtract the intangible assets on its balance sheet, the book value is about $.05 per share. I say it is very overvalued at $.42. To me it is worth exactly $.00 per share.
Ross Moody is prominently featured on the list of insiders selling NWLI stock. He was paid $1,800,000 last year and is ceo of the company. I hate to think that he could not afford to hold the stock he got through the option process. He has been a director since 1981 and ceo for more than 20 years. What does he do with his money that he HAS to sell his stock? Does he have a high maintenance wife?
Look at NTN's financial statements. The income statements show losses every year. The stockholders equity section of the most recent balance sheet shows a retained earnings deficit of $111,000,000. This miserable outfit has never made any money and never will. What possible "positive development" could you possibly see here?
TWGP looks like a disaster. The under reserving alone is terrible. And the write off of goodwill is another example of why I refuse to buy stock in companies with a lot of goodwill on their balance sheets.
Don't you just love doing business with Mr. Biglari? He always makes things so simple and clear for his investors