Was Dan Niles pump Tuesday on Fast Money a lower top in AMZN?
Since many stocks are down on the week, I was looking to see which stocks ending the week up (the ups and downs formed indexes that show only a slight loss on the week). AMZN has gone up between Monday and Friday, likely helped by pr from such "analysts" as Dan Niles who appeared on Fast Money near AMZN's high price of the week and announced repeatedly that they were recommending AMZN had been buying AMZN (and another stock?). When asked what they were selling, he replied that he couldn't discuss that and then repeated that they were buying stocks such as AMZN. It appears that took place at AMZN's high of the week and it's possible that some of those who recommended AMZN sold or had clients who sold into the rally.
It's possible that the 204-207 after hours (Tuesday?) bounce in AMZN was a lower high that won't be exceeded at least in the short run.
I'm posting this because several years ago I had respect for this analyst. He seemed logical and avoided euphoria when it was rampant. My view has changed. I haven't written to a Fast Money producer yet and may not do it because their goals of attracting viewers may not be accompanied by second guessing guests.
gap @ 209.95 above. Had a weekly "hammer" candle on the charts which usually mean more strength into the following week in markets. But, make no mastake, holding over SPX on a Weekly 1250-1270 will be very hard. Hedge the pig trade w/ USO and TBT, imo. But, remember those, too, are fiat BS shorterm trading vehicles. The problem with all of this is TOO MUCH FIAT. and they keep spraying more. One must be hedged for nutjob's Bernanke Jackson A(HOLE) Symposium . The guys has proven that he will print b/c prices go down. Ironically, he may be destroying the fiat system here doing it. Nemesis, you a moron.