Bottom fishing...Amazon

Discussion in 'Stocks' started by Cabin111, Nov 1, 2022.

  1. #41     Nov 3, 2022
  2. SunTrader

    SunTrader

    (Bloomberg)

    Tech austerity
    It’s not just Twitter fighting battles — the rest of Big Tech is struggling, too. Amazon said Thursday it would pause adding new corporate workers, citing an “uncertain” economy and its hiring boom in recent years. Ride-hailing company Lyft is going further: It will eliminate 13% of staff, or around 683 people. Even Apple, which has outperformed most of its peers this year, is slowing spending and has paused much of its hiring.
     
    #42     Nov 4, 2022
  3. dotcom crash 1.0 in 2000....dotcom crash 2.0 in 2022? place your bets here!
     
    #43     Nov 4, 2022
  4. KGTrader4

    KGTrader4

    I owned AMZN, sold it back in April at 143, after it broke support. I sold it strictly based on technicals.
    But from a fundamental, long term perspective, I think, AMZN will do ok, meaning, you might as well buy SPY. In this case, Minervini is right. The easy money in AMZN has been made. From here on it’s just another big cap
     
    #44     Nov 8, 2022
  5. SunTrader

    SunTrader

    Back then it was already down a little more than -20% from ATH and had recently been down in the mid $130's.

    Anyway I see a chance of a short term counter-trend pop ATM.
     
    #45     Nov 8, 2022
  6. KGTrader4

    KGTrader4

    yeah I lost a few bucks on it. Actually bought a number of years ago and then sold, made a bunch. But like an idiot bought back half on a drop, then sold that half at the $143 price (split adjusted), lost a few on that.
    Not trying any counter trend rally trades right now. Let the election pass and things settle.
     
    #46     Nov 8, 2022
    SunTrader likes this.
  7. SunTrader

    SunTrader

    Oh what I'm looking at can prolly wait a day or two. TSLA and NFLX as well.

    But I don't believe overall downtrend is over at all.
     
    #47     Nov 8, 2022
    KGTrader4 likes this.
  8. KGTrader4

    KGTrader4

    Neither do I. Market is guilty until proven innocent
     
    #48     Nov 8, 2022
  9. Cabin111

    Cabin111

    Finishing off this trade for now...I did a covered call for the Jan 23 $100. I got $3.60 ($360.) for the option...Just to generate some income. Yeah, I know I'm down. I just put trades out there, if people want to look...


    PS Two other covered calls I did today, won't give details...Citi (C) & Teledyne (TDY).
     
    #49     Nov 8, 2022
  10. Innervoice

    Innervoice

    I can easily see AMZN going to $75
     
    #50     Nov 8, 2022
    murray t turtle and KGTrader4 like this.