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  • bullish1_2 bullish1_2 Feb 2, 2013 10:06 AM Flag

    AMZN Stock chart looks lousy

    It is pointing to a downtrend. It is going down to 245, where it will test support. Otherwise, it goes down to the next support level at 227. The selling may accelerate as investors rush to hold on to their 48% profit in the past 12 month period.

    Sentiment: Strong Sell

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    • you are absolutely right but it must break 257 37 first.I bought the march 275 puts for 10.90 and im still in

      Sentiment: Strong Sell

      • 2 Replies to elbar56
      • Yes, I think puts are the way to go here. It is never a good sign when the leaders like AMZN do not participate in a triple digit market-move; it shows that they are about to become the "former" leaders.

        Sentiment: Strong Sell

      • ".I bought the march 275 puts for 10.90 and im still in"

        265.90 break even, anything between 255.90 and 265.90 on the underlying, you lose on option time decay...

        You could have a crack at making money if we test the AH lows of 255, but your probably lose on the greeks as crackheadz buy the near the money puts with the 275's you own losing open interest volume increasez....

        March may very well be the market peak az the orchestrated effort in the overall markets to get the bags 'in' on massive institutional distribution and to fry the shorts....

        With all the scam factorz that go into optionz, sybil cant believe that idiot crack headz are still buying them... Why they simply dont trade the underlying without time or strike decay, worse - why they pay a premium to blow themselvez up, iz waaaaay beyond sybs comprehension... But alas understanding that would be to understand why a crack head usez knowing that its very addictive and unhealthy to do so.

698.96-23.12(-3.20%)Jun 24 4:00 PMEDT