Amzn...

[SiSePuede!]

If it doesn't deserve such a high PE why are you an advocate of buying?

 

[diligent]

im joking - i am short AMZN.

 

[SiSePuede!]

Quote from diligent:

im joking - i am short AMZN.

You're nuts bro...are you short or you own Puts? Cheers.

 

[diligent]

im short, no margin.

 

[diligent]

also keep in mind this is the smallest part of my portfolio, just for amusement.

 

[hajimow]

I am following AMZN very closely. After that crazy run-up, it seems that it has lost its steam (at least among big players). I can see that volume is slowly drying and even in up days , it tends to go down. I feel that we are very close to a 10% fall in a week.

 

[SiSePuede!]

Quote from hajimow:

I am following AMZN very closely. After that crazy run-up, it seems that it has lost its steam (at least among big players). I can see that volume is slowly drying and even in up days , it tends to go down. I feel that we are very close to a 10% fall in a week.

I'll take it! I have no high expectations of it falling 10% in a week, but it could easily happen. It is a stock that could fall to pieces if a big fish decides to unload.

How many shares does/did Legg Mason have? 100,000,000 shares! If they sell out of any large portion of that stock it will shrivel like a wang in cold water.

I hope it doesn't fall apart too fast actually, I'd like to buy more Puts and don't have the funds to really start accumulating like I'd like to at this moment.

 

[diligent]

it seems likely to me that AMZN may become a "source of funds" for those looking to unwind their net longs.

 

[hajimow]

Quote from SiSePuede!:

I'll take it! I have no high expectations of it falling 10% in a week, but it could easily happen. It is a stock that could fall to pieces if a big fish decides to unload.

How many shares does/did Legg Mason have? 100,000,000 shares! If they sell out of any large portion of that stock it will shrivel like a wang in cold water.

I hope it doesn't fall apart too fast actually, I'd like to buy more Puts and don't have the funds to really start accumulating like I'd like to at this moment.

%10 drop in a week is a modest drop for a stock that jumped almost 80% in a week.

 

[SiSePuede!]

Quote from hajimow:

%10 drop in a week is a modest drop for a stock that jumped almost 80% in a week.

Normally, but this market mentality doesn't work that way. "Dip buying" is prevalent and the dwindling volume in my opinion is the best sign that we may soon see a selling spurt that can push the stock lower.

That's why I bought October Puts.