Hopefully you have made a nice profit on our short sell recommendation for Amazon.com (NSDQ: AMZN) issued back in January when the stock was trading above $400. It dropped below $300 before bouncing back recently based on speculation that the company will be releasing its much anticipated smartphone later this month. We don’t think it will turn out to be anything special, but it will get a lot of media and investor attention in the coming weeks so we’d just as soon step out of the way until excitement subsides and the stock goes back to trading on its true fundamentals. Close out your short position in Amazon if you have not done so already.