Thanks to all of you who commented on AMZN. Most were either non-committal or leaned my way. Rich adds some fundamentals into the picture.
I saw your comment on Amzn today, I hit myself for not going in ( just like I passed on STP last friday). However, I think the bullish situation will not continue in the near future. The stock level is too high compare to company's earnings ability. They did posted double than estimated earnings, but most of them came from tax break and not from their actual revenues. Not to discount all the panics from those shorts, they probably are responsible for half of the movements. I wonder where the support will be at this level.
This crazy movement may be an one time thing, and once there is no news to support this level, ths stock price may plundge back to around the 50s or even slightly lower. I rushed into the 47.5 puts a bit too early today, the puts may be at a discount at this moment. Just some of my comments, and thanks for your sharings of opinions on the web
Cheers!
Rich
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