on a very down day. If it was any other stock we could be sure it would fall further tomorrow. With AMZN I am not so sure. It had a surprisingly strong day considering the high volume. It closed only $1.85 below the high for the day and has already gone as high as $40.11 in after market trading. This stock was made for gambling.
Did you watch A/H trading last night? Vol. was huge on the downside & closing in on 40-BEFORE the market even opened today! To be honest I would have expected at least another 2-4 points down today all things considered[36-37?]Didn't happen. I also notice a lot of new arrivals on the board-obviously on the short side. I would bet a lot of this selling vol. today is not the diehard longs-but new selling from shorts. You might remember I was playing the short side at 45 mo's ago-It was pretty damn frustrating!-and I do a lot of shorting! Yourself,roman,wilkes,cigar seem to be the only ones left. My point is, there was a VERY SUBSTANTIAL amount of "hard core" short interest BEFORE the last couple of days. Add in all the new arrivals and you get the ingredients for a squeeze play. Also remember this last earnings report was not unexpected & not near as bad as it could have been. Regardless of what the CNBC "talking heads" are saying, I have been watching the tape -Inst. holders do not appear to be wholesale dumping. I don't know about amzn being "rigged" geegenjar--But it sure has a way of defying gravity most of the time. Ask the folks that were short at 35--many mo. ago. Most of the time this POS defies T/A-& fundamentals. good luck