AMZN @ 60$, thoughts??

Discussion in 'Stocks' started by thesharpone, Nov 10, 2007.

  1. AMZN has dropped 20% from it's recent high of 101$, it has dropped ~10% within last 2 days, I've been short AMZN for a while now, I covered most of it, but am still short some, what do you suggest? cover shares at around 80$ or wait for a 20$ drop to 60$?

    What is the next resistance, 74$?
  2. harkm


    Amazon has had the most classic Island Reversal I have ever seen. Stay short imo.
  3. Don't call a bottom, unless you see a reversal formation on the bottom keep pressing it. When you are right you press even harder.

  4. AMZN Weekly chart (Fib.)

  5. Thank You all for replying