Amazon Ripping the Shorts

That rationale seems to dovetail nicely with the firm's hold recommendation on the stock. Still, that hold recommendation has been maintained through Amazon's incredible run -- and on the backs of two dramatic price target increases.

But Citigroup research policy states that a stock with Amazon's risk profile should be rated a buy if gains are expected to be larger than 20%. And recommending buying the stock could be awkward given it was rated a sell before its blowout quarter and ensuing positive momentum.

All of which means investors should take pause before piling into the cyclone of Amazon's rising stock price, bullish analyst sentiments and subsequent rises.

Of course, if the expensively priced Amazon were to slide back to more-modest levels, that could be explained as well. Chalk it up to poor execution.

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