[AMZN] Amazon overpays for foo foo foods (whole foods).

As mentioned in the backlink, Amazon's M.O. seems to be to buy as many diverse businesses as possible and to burn through as much cash as possible doing it.  Now Bezos is blowing $13.7bn in cash on Whole Foods which itself was an overpriced pig with a reverse PE of 22 before the purchase for 30% over yesterday's market cap.  It seems the game for Amazon is grow or die.  This whole thing stinks of the late stages of a bubble.  How can anyone run so many diverse businesses?  Why would anyone overpay for a food store like that?  I'm starting to think that Bezos is really a Strawman.

The backlink chart is below.


Current actual shows that the shares plummeted on cue but that this news of overpaying for a low growth foo foo food store whose shares were stuck in a falling wedge has gapped AMZN back above the top rail.  That's means it is in no man's land technically.  Give it a few days and we will know if there is one thrust left in these shares or not.