Amzn

What's the float on this sucker? and the earning multiples?

I think this whole rally is all part of short squeeze because of low float and high short interest. the $50s put starting to look interesting.
 
Quote from scriabinop23:

run to the exits !!! a broker downgraded it.

:)
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I'm not running anywhere. The day's not over yet. Even if it goes down, it'll be back up there if not today then next week. You've got to remember Analysts, Institutions and MarketMakers all share the same bed. Also I am assuming you mean an analyst downgraded it. A broker's downgrade means zilch.
 
This is the analyst who downgraded it and his reasoning for doing so:

Stifel downgrades AMZN to Hold from Buy based on valuation. The firm says they believe the co is performing above even their optimistic expectations, which would make them comfortable being buyers again in the low-$50s.
 
Quote from ak15:

This is the analyst who downgraded it and his reasoning for doing so:

Stifel downgrades AMZN to Hold from Buy based on valuation. The firm says they believe the co is performing above even their optimistic expectations, which would make them comfortable being buyers again in the low-$50s.
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so if shorts aren't covering, whats the catalyst for up?
 
Quote from ak15:

I'm not running anywhere. The day's not over yet. Even if it goes down, it'll be back up there if not today then next week. You've got to remember Analysts, Institutions and MarketMakers all share the same bed. Also I am assuming you mean an analyst downgraded it. A broker's downgrade means zilch.
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You are in investor then, not a trader. That's certainly cool, but why be so tough-minded? Cassidy's book, "Trading on Volume" comes to mind. Just looked up chapter 10 which discusses these kinds of volume episodes. I cannot imagine what fantastic news it would take to make the price move higher. Look at the last two days volume! If that isn't a classic volume/news spike I don't know what is. I have found it pretty reliable trading against these moves. Now, I know it did not work this time, but up here there is quite a bit of downside risk; I'm just wondering where the upside is. Seems to me it has to be the greater fool theory, since I cannot think of anything else. Why do you think it will go up?
 
Quote from ak15:

More buying by MMs and institutions.
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MMs? MMs don't stay in business buying at nosebleed levels and dumping at a loss.

Institutions? They buy on dips, not tops.
 
Quote from gov:

You are in investor then, not a trader. That's certainly cool, but why be so tough-minded? Cassidy's book, "Trading on Volume" comes to mind. Just looked up chapter 10 which discusses these kinds of volume episodes. I cannot imagine what fantastic news it would take to make the price move higher. Look at the last two days volume! If that isn't a classic volume/news spike I don't know what is. I have found it pretty reliable trading against these moves. Now, I know it did not work this time, but up here there is quite a bit of downside risk; I'm just wondering where the upside is. Seems to me it has to be the greater fool theory, since I cannot think of anything else. Why do you think it will go up?
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I'm a trader not an investor. Each to his own. I have my own reasons. Don't want to get into any arguments over here. Time will tell.
 
Quote from scriabinop23:

MMs? MMs don't stay in business buying at nosebleed levels and dumping at a loss.

Institutions? They buy on dips, not tops.
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You don't know when MMs buy and sell. If you did you wouldn't be here.
 
Quote from ak15:

I'm a trader not an investor. Each to his own. I have my own reasons. Don't want to get into any arguments over here. Time will tell.
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Well, I have no stake in it at this time so I wish you all the best. Let me simply say that there is a seller for each buyer. Oh, and MM's are a clever lot.
 
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