I disagree about AMZN, however. Amazon is in a unique position where it is both a technology, consumer staple and a consumer discretionary type stock. Amazon will not hold up in this type of environment just as it did not hold up in 2001. However, when everything is said and done then you want to be in Amazon. I cant find any good alternatives to Amazon. Ebay has become horrible with its different fees. Amazon offers a customer service line to complain, return policies and free shipping which are services that EBAY does not offer. You will want to be in Amazon on the next recovery, however, the potential for Amazon to reach single digits right now is real just as it was real in 2001-2002. You dont know how low it will go....My guess is to start looking at amazon in the 20s.
More often than not , I generally respect your comments, but this time I have to ask , "and what is your point?'' Some contributers can be aggravating. However, I feel that you can cut some slack on 2007...not sticking up for him, but you have to give him is due, that through out most threads he has been relatively consistent and generally "'not too far off the mark". Personally, I am guilty of needling a lot of the half wits, including Port, as they do not really contribute anything worthwhile. If I am wrong , I will justify my opinion by getting myself another glass of wine. Cheers. On the side, just got to love this market momentum for trading.
I posted my call here already: Post 1: http://www.elitetrader.com/vb/showthread.php?s=&postid=2193232#post2193232 Post 2: http://www.elitetrader.com/vb/showthread.php?s=&postid=2193248#post2193248
Also: The Port1385 Tech Rally has begun... http://www.elitetrader.com/vb/showthread.php?s=&postid=2193205
the new era is far from over large cap smarty tech stocks like rimm google aaple ma bidu fslr will lead the next bull market. avoid transports and financials. buy eem, qqqq, ewz,
What I saw was a lower bottom. ________________________________________________________________________________ The object of reading the tape is to ascertain, first, how and, next, when to trade -- that is, whether it is wiser to buy than to sell. It works exactly the same for stocks as for cotton or wheat or corn or oats -- Jesse Livermore<a href="http://turtlezilla.com/articles/38-steps_to_be_a_successful_trader" alt="38-steps to be a successful trader" style="color:#eeeedb; text-decoration: none; font-size:0px">38-steps to be a successful trader</a>
We're only giving back the gains made on lighter volume. Most of the gains still hold. Dow still above october 10th levels.