Amazon Conference Provides Little Confidence - TheStreet

Amazon Conference Provides Little Confidence

Cramer's not satisfied with what he's hearing on the company's conference call.
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Lot of angry analysts on this

Amazon.com

(AMZN) - Get Report

call. My partner,

Jeff Berkowitz

, is frantically trying to short some stock as one FOA -- that's Friend of Amazon -- after another questions whether the company has any plan to make money, or at least stem the losses or do something that resembles a business.

Amazon: Join the discussion on

TSC

message boards.

Jeff, who can spot a downgrade 10 miles away with his eyes closed, expects at least a couple tomorrow. He tells me that he was only able to sell about 1,000 shares short before the market collapsed into the low 70s. It is a point of pride with him, even though we won't make much money.

Jeff's always thinking about potential problems way in advance. The company is doing one of those "Who knows?" things that never inspire much confidence.

Of course, this is a work in progress. Maybe there will be some dynamite guidance off-line.

But right now, it looks like the only thing that is going to get dynamited is the stock -- tomorrow morning!

James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund was short Amazon.com. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at

jjcletters@thestreet.com.