Didn't play yesterday. Made about 26 points last week in total. Using AMZN. Here we go. Looking to short again today. Edit 1) Its $1776 ... up nicely. Patience.... Edit 2) Its in interesting territory. Right at the 50 day. I think if it can take out 1800 again on good volume and hold it for a few sessions it'll make $2000. That said, I remain bearish on it for now with a near term target of $1730. No position yet today.
Didn't get a trade on AMZN yesterday. I set the order at 1788.10 at about 10:30 and stuck by my rules lol. I hate that. I was looking at this mornings pre-market volumes on the Naz 100 to see if anything looked interesting... I'm not playing it today, but man, looking at Apple's chart.... I guess I have a short memory, time flies... that crazy thing is up almost 75% YTD. Amazing. TSLA looks interesting today. we'll see.
AMZN is of course falling without me along for the ride. $1762 now. Tempted to put an order in to buy if it hits 1759ish, it'll get a dead cat bounce there on some near term support. I'm not gonna do it though, I bet it flatlines down there and then drops like a rock in a day or so. Edit... yeah it looks like that support kicked in at about 61/62 not 59, I saw that, but I thought it might shoot through it a bit. Note how its doing its own thing and not following the S&P and the Naz today... interesting actually, thats a decent sized diversion really. We'll see... but I think 1730 or lower is a very real possibility near term.
AMZN closed down 1.4% fwiw. $1753 Naz and S&P were flat. I'm starting to think $1620 will fall in time.... We shall see....
Ahhhhhhh.... That damn thing is looking strong. I'm gonna close it and get back in later. edit... I'm just setting a stop at 265.26 It'll probably hit, but whatever
Well, glad I set that stop instead of taking a $1.30 hit at the time. Hmmm. Tempted to keep overnight. naaaa. Callin' it a day. Blew that one. Should have waited to get in. Green is better than red though. Edit... out at 262.81
Back in. I don't think its going over $265 today. Got 264.04 Stop is set at 265.37 Every time its got near 265 this week the volume picked up and drove it down. The "pro boys" are locking in gains. If that stop hits, its probably going to keep going as the selling is done.