So why fight it? There's an incredible shift going on in the way consumers spend their money, and more importantly, where they spend it. One day the market may change its mind, and decide valuation matters. But the stock will be down a whole lot more than this, meaning that day is not yet here.
So it's up to you. You can frustratingly celebrate with the bears on a 10% gain after a 20% or 30% shellacking, or you can just buy the stock on steep pullbacks, ride it up and then wait for the next opportunity.
Amazon might go lower, but it'll be standing on $400's doorstep before you know it.
At the time of publication, the author held no positions in any of the stocks mentioned.Follow @BretKenwell This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff. -- Written by Bret Kenwell in Petoskey, Mich.
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