Amazon.com (AMZN) short squeeze continues (vanity)

farlander

[farlander]

AMZN surges up another 10% as the great short squeeze continues. Seems sellers are nowhere to be found as some panicked hedge funds attempt to cover.

AMZN P/E is quickly approaching 140, the likes of which have not been seen since the great .com bubble of '01. The question remains how high it will go.

[farlander]

It brings up such fantastic memories, as well as the hedge fund managers warning: "markets can remain irrational for longer time than you can remain liquid".

[farlander]

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[Vn_survivor_67-68]

last months short interest was 46 million shares....given the volume for 2 days now, I’d say the squeeze is over

http://finance.yahoo.com/q/bc?s=AMZN&t=5d&l=on&z=m&q=l&c=

[farlander]

Yea the last half hour activity sure looked like the capitulation of short position holders. We’ll see... possible some mutual/hedge funds doing some window dressing through the end of the month.

[devane617]

Another Short squeeze play is Satellite radio. XMSR, and SIRI, are both zooming today after weeks of lackluster performance. XMSR reported today, and reported strong subs and numbers. SIRI will report next Tuesday, May 1st, and I expect the same or better for them.

[L,TOWM]

I had a former boss tell me in 1998 — “Some stuff, you just don’t short. Now, having said that, it occurs to me that some AMZN profit taking may be in the works for you call writers and put buyers out there...

I know, I’m evil. ;-)

[farlander]

LOL... It’ll be interesting to see what happens next week. Those Jun 60s sure look mighty cheap. But then again, they could be cheaper by 50% very quickly if there’s another leg up.

[4woodenboats]

Almost that many traded today....there’s nothing like a good short squeeze! LOL

[Moonman62]

AMZN had a string of several disappointing quarters. Now they come out with a great one.

[Moonman62]

AMZN P/E is quickly approaching 140, the likes of which have not been seen since the great .com bubble of '01.

I thought that peaked at the end of '99.

[Vn_survivor_67-68]

I’d bet that a BUNCH of shorts were covered tuesday or even monday by the insiders, institutions (ahem!), and savvy traders. Look at the last 30 minutes volume spike on tuesday......and keep open to the idea that a bunch covered at $45 over the day or two previous without much of a blip in volume. Just the chumps got bought in starting wed am....

chart
http://finance.yahoo.com/q/bc?s=AMZN&t=5d&l=on&z=m&q=l&c=

Historical Prices/Volumes.....look at that volume spike on 4-16-07.....there’s your actual insiders....savvy traders pushed it to 7+ million on 4-17
http://finance.yahoo.com/q/hp?s=AMZN

[4woodenboats]

The institutions are probably already packing their customer’s accounts full of stock they’ll buy back in a couple weeks...

[Vn_survivor_67-68]

Shares Outstanding: 414.68M
Float: 310.01M

watch AMZN offer some or all of the remaining 114 million soon......