Careful for sell off on strength here- AMZN

It dropped over 8 points right at the open then exploded up. I was short pre mkt at 360.84 and covered at 358.20. I shorted 400 shares.
 
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It dropped over 8 points right at the open then exploded up. I was short pre mkt at 360.84 and covered at 358.20. I shorted 400 shares.
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Dude, that's a 2% move which is nothing for that stock on a normal day and this morning it had earnings. It's annoying when traders attribute skill to variance.
 
Far from sell off.

363.39 close

These scenarios, like NFLX earnings, show their hand from open, AMZN was the typical, wait for retrace to moving average and get a piece of the momentum.
 
A few years ago ( more than 4 years ago) AMZN was trading at around 30 something and was considered to be overvalued. After one earning it shot to $56. I shorted 200 shares for fun. A few days later, it went to 70 and I shorted 200 more. To make the story short, a few months later, I covered it at over 100 !!. AMZn has got a pass from Wall street to have no earning. Who is losing money here? CEO and top guys are paid well. employees are paid well. Customers love AMZN as good reputable company. Only share holder might get screwed at the end (not now). If you invested 100K in AMZN, now you had 150K in a year. Not bad.
 
hey.. i have too many stories to tell ya on amzn. i have been shorting it since 80s.( OTM Calls) then I gave up at 250. .now I am bullish.(sell OTM puts. each week) dont laugh.. when it was in the 280s.. my trading buddy and I had put a target of 350 by mid 2014. we were supposed to sell mid 2014 350 strike puts and wait and watch.. but b4 we could do that...darn.. it reached there OCT 13.. ha ha.. bezos is amazing. the richer he gets.. he definitely must be pumping in a lot of cash to prop this up. wall st.. can stay irrational longer than you can stay solvent. LOL..
 
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