Friday, September 19, 2008

Bookkeeping: Starting Amazon.com (AMZN)

Posted by TraderMark at 12:30 PM TweetThis
The consumer is back. Gasoline is heading to $1 so shipping costs will be lower. A second stimulus check is surely on the way because "We cannot bailout Wall Street without bailing out Main Street" and debt means nothing to the country. And Christmas season is around the corner.

Ok all those reasons are facetious. Amazon.com (AMZN) crossed over its 20/50/200 day moving averages all in 1 fell swoop. All are between $78.50 and $79.00. What a nice set up. As long as it stays above $78 we're in. If not, we're out (and in fact would short it). Away we go.

We're starting a 2.5% stake just above $80.

Long Amazon.com in fund; no personal position

Posted by TraderMark at 12:30 PM Comments (3) | Edit This Post | Create A New Post

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3 comments:

crappy said...

So what's the big picture take someone can take from the events the last few days: Is the 'world slowdown' over (commodities required again for growth), is this just another temp solution and we're bound down, or we have quasi-growth where we don't need commodities but just loans, ipods and cars?

In other words, where does this put us in the economic cycle?

September 19, 2008 1:21 PM  
minaccess said...

You won't be able to short AMZN because they will petition the sec since they finance the merchandise.

September 19, 2008 2:09 PM  
TraderMark said...

mini,

good one! thanks for the laugh!

Wait... you were kidding, right?

*twilight zone music*

September 19, 2008 2:19 PM  

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