Discussion in 'Trading' started by EMini-Player, Aug 18, 2003.
Your thoughts on AMZN.
No P/E just drives me crazy!
Well, I'm short AMZN and wanted to see if there were others in the same boat. Either way, I will cover if it hits the $44 level
I shorted amzn at 41.46 and covered at 41.52. It looks amzn will go higher than 44 before it falls down.
this might have something to do with it
The weekly and monthly charts gave the buy signal Jan or so of last year in the teens. The daily chart has recently bouncd off the 50 ma, and then back down again and back up. This, imo, is a stock running out of steam. The macd has not confirmed new highs since the end of May. I have wanted to short this bad boy for awhile, but it won't break.
Maybe the next reversal day is it. But I like the 40 sma cross along with the macd crossing zero at the same time... or nearly so. Then all those players, a large part of which are the institutions, are getting out too.
Just bought three books from them. All were 30% off and I received free shipping. How are these guys making money? I guess its all about getting market share.
I doubt if this stock sees 40 again for a long long time. Watch it slowly creep past 50 then 60 and maybe even 70.
With VIX under 20 and AMZN at implied volatility low (52-week), an October combination/straddle purchase might be a good speculation. Many other stocks at historic/implied vol lows, btw.
Long SSF @35.21. Ready to exit.
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