Monday, September 13, 2010

Bookkeeping: Selling Last Tranche of (AMZN)

We are now reaching "egregious" on the overbought scale for many of the leadership stocks.  For example in terms of relative strength, (AMZN) has not been this overbought since the silly holiday season of Nov/Dec 2009 ... when light volume Thanksgiving and Christmas trading leads to much nonsense.

I've sold in 3 tranches, with today being the last at just under 1% exposure... I will retain a 0.1% stake.

If they gap the market up tomorrow on whatever premarket economic report, I'll begin shorting aggressively as I am seeing "egregious" in quite a few spots now.

Long in fund; no personal position


Disclaimer: The opinions listed on this blog are for educational purpose only. You should do your own research before making any decisions.
This blog, its affiliates, partners or authors are not responsible or liable for any misstatements and/or losses you might sustain from the content provided.

Copyright @2012