Still bullish on AMZN ??

Mildly bullish in the very short term...Reasons:

1) holiday season coming up.
2) Big winter storms hitting outside = people shopping from inside.
3) Amazon sells everything under the sun.
4) Technically it's ambling in to a bunch of support areas ($135ish, $125ish).

If it were closer to its gap, I'd be more leery of having it fill, but it's pretty far away.

Short term bull with a small position (and a decently wide stop). Looking for a run up to the recent high area ($145s) and then see what it does. A double top up there may mean some serious downside as people book their profits after Jan 1st to push out capital gains taxes and also realize they have no jobs to pay for the stuff which was just purchased.
 
The good thing about Amazon (for them) compared to Wal-mart is it's harder to return something. Consumers have to go through all the shipping issues. Especially near Christmas time, I notice long lines for returns at places like Wal-mart.
 
Quote from TheGoonior:


4) Technically it's ambling in to a bunch of support areas ($135ish, $125ish).
More...

I don't see support around 135 but it's breaking 132ish with some pressure today. Same thing with PCLN, seems like sheer profit taking.
 
130 support held and it was basing for most of the day...Volume picked up a bit fro the last two days, so we could see a bit of a move back to the upside.
 
Quote from TheGoonior:

130 support held and it was basing for most of the day...Volume picked up a bit fro the last two days, so we could see a bit of a move back to the upside.
More...

You should keep in mind while bulls came into the market at 1:45pm and ran the markets back up to a positive day, AMZN was still coasting sidways. It actually started coasting sideways since 10:30am in the morning.

Is this stock slowly picking up steam? It could be, but last Friday, it sort of did something similar. It dropped in the morning, coasted sideways, and the next day dropped more.
 
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