Will see what happens in the next couple of trading sessions. Feels like a BULL TRAP. We did close above the EMA 50 which is bullsh but put in a black candle (where price opens UP higher and then closes lower than the open price). The last few times AMZN did that were also at the EMA 50 and those were followed by a sell off. I would say that price needs to break and close above todays high before confirming a bullish move and I would say price needs to break and close below $754 before confirming a bearish move. We are in a no mans land consolidation between $754 and $780ish. When we break one way or the other...hold on to your hats because I expect it to be rather fast, which is another reason why I think todays move was a trap where the market inflicts the most pain to the most people. I may try taking another short position but want to see more of where price goes the next few days.
Thats it... keep spending that money on stupid ideas... _________________________________________________ Amazon wins patent for a flying warehouse that will deploy drones to deliver parcels in minutes Arjun Kharpal | @ArjunKharpal 2 Hours Ago Amazon has been awarded a patent for a giant flying warehouse that acts as a launchpad for drones to deliver items within minutes. The U.S. e-commerce giant described plans for an "airborne fulfillment center" (AFC) such as an airship or blimp that would float at an altitude of around 45,000. The airship will be stocked with lots of products. When a customer places an order, a drone or unmanned aerial vehicles (UAV) will fly down and deliver the package. Amazon insists that this would require little power because the drone would be gliding down rather than having to take off and land. "When the UAV departs the AFC, it may descend from the high altitude of the AFC using little or no power other than to guide the UAV towards its delivery destination and/or to stabilize the UAV as it descends," the patent filing explains. Amazon's filing reveals several uses for the warehouse blimp. One example is at a football match where customers may want certain items such as food or merchandise. Ahead of the game, the AFC could stock up on items and deploy these during the game with drones when they are ordered. The airship could also be used as a giant advertising board, allowing customers to order the items on display. All of these can be ordered "within minutes". The drones would be able to communicate with each other via a mesh network to give information such as weather and route. UAVs could also recharge on the airship. Amazon's filing explains that the blimp would remain in the air and be refueled and replenished using a shuttle. This could be a smaller aircraft capable of docking onto the AFC and unloading products as well as fuel. If this plan saw the light of day, Amazon would likely need regulatory approval from aviation authorities which could be complex. The patent filing was awarded in April this year but only circulated this week. It's not the first patent that Amazon has been awarded regarding drone deliver. In July, a patent showed how Amazon was thinking about tall buildings and structures such as lampposts or churches as docking stations for drones to recharge. Another patent described how drones would "talk" to each other to plan routes and communicate. Amazon successfully trialed its first delivery by drone in the U.K. earlier this month and is pushing ahead with plans to make this widely available. The U.S. firm files and is awarded many patents but it does not necessarily mean the ideas will become reality.
Thing of beauty. I owe you lunch. I stayed with the trade mainly because of your conviction, but also because of knowing human/Wall Street herd mentality running it up yesterday on the "greatest holiday season yet" headline and then the retreat.