Why Shorting Amazon?
There are too many reasons to be on a short position on AMZN
1)This stock is not driven by reality, it’s driven by fantasy. AMZN has a P/E near 100 and PEG of 3 and it is propped up by institutional money. The shorts should just hold on and leave for the summer. After next Christmas AMZN will 50% off from today’s price.
2)NYtime also says that “Online Sales Lose Steam” in a story published over this past weekend.
3)Forrester Research, a market research company, projects that online book sales will rise 11 percent this year, compared with nearly 40 percent last year. Apparel sales, which increased 61 percent last year, are expected to slow to 21 percent. And sales of pet supplies are on pace to rise 30 percent this year after climbing 81 percent last year.
4)I will share the technical analysis on AMZN in tomorrow’s edition.

June 11th, 2009 at 3:28 am
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November 2nd, 2009 at 8:14 pm
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