Grizzly Weinstein (sea_gaagii) wrote,
Grizzly Weinstein


Being a wise ans sage-like individual, I decided to short Amazon just before they released earnings. They have far too much debt which will eat a hole in any profits they can ever make. So I figured they would meet expectations if they were lucky, the stock was at a yearly high and I figured this was due to speculation that they might beat earnings. Since the stock was already up based on the assumption of high earnings, high earnings would only justify the price and not cause anymore movement by the sheeple investors.

They lost a penny less than there were expected to lose, so the stock went up a few bucks. Dagnabbit, what is wrong with these people. So I say, "Oh Yeah, what an opportunity". The stock is again higher than it should be, this time even worse than it was before. So I bought twice as much at the new price! That'll learn 'em.

AMZN has been bouncing around since then, up a little down a little, no real movement, still down overall. Check this morning and AMZN is up over 5% based on CISCO's news. What the hell do AMZN's profits have to do with CISCO? CISCO is not the sign of a healthy purchasing economy. CISCO is doing well because in the commodity world when your competitors stop shipping products you get a bigger market share. Plus they are only doing well relatively to how badly they got beaten down when they didn't get all the revenues they had already taken into account because of all the dot com companies that had agreed to buy their products being belly-up.

So I took this cue to buy more AMZN. It ended up 7% for the day. I think I should stick to 'craps' and 'blackjack'. At least you are not given the illusion of control.

On a good note, MS was up 10% on the same unrelated news. At least CSCO's profits are slightly more (i.e. almost not at all) indicative of MS's future profits.

I didn't get to work on my shelves last night. The ride I had home never showed so I took the bus. Got home about 10:00 and was a little too tired. Walked Barney until about Midnight and went to sleep.

(actually Britt had left some stuff over and stopped by to pick it up).

Tonight will be dinner and a quiet evening with Joystormer. My brother, Partsman, is coming into town with his girlfriend tomorrow night. He will be staying until Sunday morning. It should be fun, we are catching the Red Sox Mariner's game on Fri (hope I don't get hit by a baseball) and doing some Hiking on Sat. Neither he nor his girlfriend have ever been in Seattle.

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