Yeah; that is the way I went broke back in 1969. They didn't even have any E to P into then and it still went up every day.
I'm sure you can buy a Cessna on Amazon. I still like the Piper Cub. Although top speed is 85 it is the easiest plane I have ever flown.
I wouldn't count on it. The loss was predicted and the trend is moving in a pattern that could take us back over $400. After all the P/E is not even up to 600 yet.
Only been 16 years. Started in 1998. There was no P/E then, only hype. It is still a great place to buy from, but I wouldn't want to own the stock.
I love being an Amazon customer but would hate to own the stock where the only hope for gain is finding a greater fool.
An interesting article from Forbes is available at http://finance.yahoo.com/echarts?s=AMZN+Interactive
Just skroll down below the chart and click on the first news article. Velly intellesting.
Bollinger Band theory seems to support your conclusion. This is the third day that AMZN has been trading above the top band which is now at $346 and this stock doesn't seem to stay outside the bands much longer than that. September 360 calls are going for $16 and it looks like a pretty safe bet.
The trouble with leap puts is that the value of the dollar is declining so fast that stock prices are likely to increase rapidly. I plan to wait for a break in the up trend of AMZN and try to make some bucks on weekly puts.
You probably should have waited for a turn down. Up $8.50 today on good volume looks like more to come.
I don't think the drones are the reason for the runup. I think it is Babak Parvis joining Amazon. He did some pretty great things for Google however I doubt that he will make Amazon a profitable company.