Re: Amazon (AMZN) jumps from $40 to $62
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The basic problem to me is there are so many people high on Amazon and so many large funds holding it that it may not correct down until some really bad news comes out. I personally believe this is a huge over-valuation...
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Remember Keynes: "The market can stay irrational longer than you can stay solvent." [img]/images/graemlins/grin.gif[/img]
I agree that 106.1:1 P/E ratio is pretty sick...
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Yeah, my guess is it might not correct down for a few quarters until bad numbers start coming out, or if the whole market hits a little bump (which it seems to be doing a lot) Amazon could drop a lot if the confidence bubble deflates.
No idea how long this would take.
Anyway - my main question is if I want to make this play what's the best vehicle for making a bet against it?
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