Thursday, July 22, 2010 (AMZN) Should Be Interesting Tonight

I had a short on (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.

No position


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