"Sharktooth" distribution chart followed by "Amazon Falls"?
Classic. Was seen in Chipotle at top. Also right shoulder non-confirmation of a head and shoulders top. Throw in capital gains selling plus other factors (possible Einhorn short?) and the fall off the right shoulder could be extremely vertical.
charts a like monday morning quarterbacks there great at telling you where stock has been but ain't worth a #$%$ at telling where its going. So if amzn reported a great earns tomm morn the chart would be a bunch of #$%$.
Boy are you wrong about that. Charts and technicals in the short term absolutely do work as short-term predictors regardless of long range fundamentals. Do some research on elliot wave theory and fibanacci retracement, arcs and fans. The investor that combines the two (long-range fundamentals and short term technicals) has the best chance for success.
the RLX or the S&P retail index was down big today....down 1.5%. Albeit its still near its multiyear high.
Commscore said on line sales up 13% which sounds good on the surface but since AMZN requires a 25% growth rate on top line...this is significantly less than the target. Plus the others WMT, TGT, and all the other retailers have much improved web sites so AMZN isn't gonna steal their market share as in the past.
forget the hype....Methinks that the xmass season is going to be weak for scamazon and its multifront war strategy.....did they ever hear of walmart/stalingrad?
AMZN dropped the price of Kindle Fire HD by $50 today. I believe they were already sold at cost.
Price fight with Google regarding clouds.
Price fight with Walmart regarding standard goods.
Price fight with Apple, Samsung, Barnes & Noble regarding tablets.
Tax fights with governments around the world.