Amazon Still Looks Overvalued

Stephen Frankola submits:

Though I myself didn’t short shares of Amazon.com (AMZN) despite all of my recent negatively-slanted pieces, I am glad to report that shares are sitting lower than they were on every date that I published anything about them.

AMZN’s recent decline can be attributed to the general market pullback, but looking forward, shares may continue to underperform. Below is a six month chart of AMZN [click to enlarge]:

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