Wall Street Manna

An irreverent look at Wall Street

Monday, July 26, 2010

Time to scalp AMZN for a short

The stock traded down to 105 after earnings and then traded up to 118.  I think this number can come in here.

The chart sucks!!


At July 26, 2010 at 4:16 PM , Anonymous Anonymous said...

Palmoni, why short anything? You are better at "touting". See you short something and it still goes up.

At July 26, 2010 at 5:11 PM , Blogger Palmoni said...

Really I hate shorting! I'm a nervous short anyway!!

I was just looking for something to trade since I'm in all these biotechs!

Which is why, I guess I never understood how these permabears can remain solvent.

What do they do when their shorts go against them?

I never give my shorts any rope to hang me with.

But heck, any light at the end of the tunnel is always sunshine as I see it!!

And you're right. Their is just a micro sliver that you vcan make shorting versus all the upside in the world. And holding stocks doesn't make me nervous- But I can't believe how many guys belly ache when they are down on a position.

I guess that's where the mega bull cycle belief helps. I think so many stocks will be up 200-300% from these prices that it doesn't make sense to short anything --especially when stock prices haven't moved in ten years.

That being said I still need my daily fixes of high beta names just to get the juices flowing!!


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