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Once simply an online purveyor of books, Amazon.com has become a marketplace for just about anything you’d want to buy.
I know, it's always a foolish bet to sell AMZN short. My sentiment isn't against the company or the stock in the long term; I just think it's overdue for a major correction. With a forward (projected) P/E of 80, and trading at over 14 times book value, I believe stock is ripe for some major profit taking. The chart for the last 4 months shows a series of lower highs and lower lows, which does not portend well for the near future.
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