I had a short on Amazon.com (AMZN) for a small period of time but with earnings coming tonight, standing in front of a 50/50 decision is not my type of odds. There is still a yawning gap at $95 so if the dice fall the wrong way this will be the target for the name, over time. Of course if there is luck at the craps table the stock should finally sprint over resistance that has been holding it back.
In many ways the chart above actually looks a lot like the S&P 500 - a series of lower highs of late, and inability to break over key resistance and stay there.
Thursday, July 22, 2010
Amazon.com (AMZN) Should Be Interesting Tonight
Best Of FMMF
- 1: Warren Buffet Piles on Europe
- 2: [Video] Jim Chanos Returns from Europe, Even More Bearish on China
- 3: A Chart to Open Our Eyes - Staggering Changes by Multinationals in Employment Behavior 00s vs 90s
- 4: Futures Blasted on Dexia Woes... and Poor Preliminary China Data
- 5: Market Working to Worst Thanksgiving Since 1932
- 6: Et Tu, German Bonds? Poor Auction Raises Eyebrows