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  • jkanalysis jkanalysis Feb 8, 2013 12:47 PM Flag

    For SHORTS only

    Just a few points to consider on this very day. The Spx gapped up to a new 4 1/2 year high today. It has yet to trade negatively ( 3 1/2 trading hours left today). If the SPX gaps down next Monday ( and that's an IF), it puts in place an island reversal top at the end of a 4 1/2 year 150% plus run, and which would essentially be a triple top over the history of this country ( and, oh btw, the all time high in Oct of 2007 ended on an island reversal top at the absolute all time high. We know what followed , so don't think that technical formation is not important). Meanwhile, Crm still has it's island reversal top in place on Jan 28th of this year at the all time high. The 50 day moving avg is still moving up on crm. It is currently at 168.10. At the current rate of incline, it projects to $169.50 on next Friday Feb 15th. The intraday low of the last two weeks has been 169.16 made yesterday, Feb 7th. A break of the 50 day avg projects Crm to $160-$161 hours to a day after that break. Then it represents upside resistance prior to the earnings release. Finally, of most importance, is the continued decline of Amzn. Amzn is currently at $260.99. The 50 day avg on Amzn is 260.39. Amzn has not closed below it's 50 day avg since while crossing through it from above, since Oct 10th of 2012. When that occurred , it lost 10% of it's value over the next 14 trading days essentially hitting the 200 day avg ( which it did hit another week after that). The current 200 day avg is at 240.00 on Amzn. I believe if Amzn closes below the 50 day avg today, reaching the 200 day avg at 240.00 will come much sooner than 14 trading days. Maybe this information will lead to profits for some. Good luck, shorts.

    Sentiment: Strong Sell

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