Amazon (AMZN) Charts – Caught in the Channel
I’ll just let these Amazon charts speak for themselves. Getting a little crammed up in the channel, no wonder AMZN is sitting with a short interest near 6% of the total float.
Amazon is currently trading at a P/E of 77.50
On this chart observe where the standard deviation is currently sitting.
It is possible that AMZN is just beginning a significant move higher. It could take it a couple of years before the signs of it slowing mainfest with negative divergences. It’s valuations may currently be hutty, but if the perception develops that all brick and mortar retail is at risk as the economy slows and that only online will survive in the post debt bubble world, then that perception will become reality. Of course, I wouldn’t mind seeing AMZN go to zero since they were apparently afraid to allow Bill Still to list his “Secrets of Oz” video. But, considering the connection between Bezo and the big banks, it would appear unlikely that the Banksters will stab Bezo in the back for rubbing theirs. Sure, AMZN will be volatile, but, I’n not holding my breath for it to drop like a stone.