I have been busy getting my life in order. Moving to Maui on Thursday. Well at least my stuff is going on Thursday. I leave end of July. My wife and kids are in Japan getting some of that Fukushima good Karma. Talk about a nation in complete denial.
When I started writing on this wonderful site I was up 9% for the year. I am now down 3%. I got run over by the short squeeze and stopped out. I still own September DIA puts which have been crushed. I went short AMZN again today with a tight stop. With todays intraday reversal I think we may have seen a near term top with a nice correction ahead of us. I am using AMZN to express this opinion because the Chart is very compromised, low short interest, fundamentals are deteriorating and the phone launch looks like a disaster. People are getting tired of the no profit meme. The rally out of the lows has been relatively weak compared to other marquee growth names. Chess has been eyeing this one as a short candidate. I think it is time to try and short this POS again. I think the shorts have been slayed and because they are dead there is no one left to cover. I can hear an air pocket below.
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Congratulations on moving to Maui ..
Thanks for the update, and good luck with the move.
Bluestar, where in Maui & do they have fast internet connections down there?
also, why short a hedgie-fave goto-stock with genius CEO, like AMZN when there are tons of easier marks out there? sure it’s ‘over-valued’ but and has been since forever, and may stay that way forever
Juice,
Haiku. AMZN is actually breaking down. Look at the chart. Also some of my friends that still run large dough are selling this POS out. Dumb hedgies and index funds will be the bag holders.
AMZN breaking down? No offense but I think your chart is upside down.
Forgetaplha,
AMZN is at a critical junction near term. Lets see it get above the 200 day and also what hapeens in a few weeks when they print the quarter.
If and when a large decline starts, AMZN, NFLX, and CMG will be my Three Horsemen of the Putacolyspe.
Bruce,
Timing is key. I have failed on that front recently but I feel we are close. down 4% for year was up 9%. oh well.