AMZN, close to 30% in Day? When Down?

One thing I can say about amzn, and if you go back on the chart to analyze, is that they will go sideways just long enough (weeks to months) for bears to cry uncle in desperation. What looks like an easy target is not always the best.

Especially if it is fighting the rest of the market. If the market turns back up, guess what will happen to amazon shorts? Not a good idea to buy or short at the moment, IMO.
 
Quote from dtrader98:

One thing I can say about amzn, and if you go back on the chart to analyze, is that they will go sideways just long enough (weeks to months) for bears to cry uncle in desperation. What looks like an easy target is not always the best.

Especially if it is fighting the rest of the market. If the market turns back up, guess what will happen to amazon shorts? Not a good idea to buy or short at the moment, IMO.
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agreed on that fact it likely won't fall right back down. BUT... it is a great short at these levels if you long other stuff against it. good pairs trade (esp if you are in puts and your risk is defined)
 
Look at RSI, so high. If we are patient, it will go down. Just liike FCX, I thought that it was going to go up & up. I shorted last week at about $84, almost covered but it's now under $80.


When RSI is extremely high, the stock eventually will go down.
 
Here it's another example, JCG gave great guidance, went up good. Today it got a downgrade so it's down finally.

Analysts will downgrade if a stock moves up too far too fast.
 
Quote from cybercash28:

Look at RSI, so high. If we are patient, it will go down. Just liike FCX, I thought that it was going to go up & up. I shorted last week at about $84, almost covered but it's now under $80.


When RSI is extremely high, the stock eventually will go down.
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Yeah, but while you are waiting for the RSI to fall the stock goes up another $100, and the RSI either stays flat or goes up a point.

A quick glance at the 14 d RSI yields only 84. That's not exactly sky high - 15 points to 99, you know.

Did anyone with beacoup cash think that kindle 2 is about to revolutionize the publishing industry? Is that why the stock has gone bonkers? Turning AMZN into the Netflix of books?

Dangerous advice, IMHO.
 
AMZN is strong today considering tech was extremely weak.

Since earning was extremely good, shorts did not stay long. $120.76 was low today and it really wanted to move up. If the tape is stronger, it could break $126 easily.

AAPL did the opposite, really wanted to go down.
 
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