Congrats rimm at the cover , this thing is still not giving up, lol 10 billion jump in a week, a profit amount amzn would likely not see if you add up the next 10 years. Happy thanksgiving to you rimm, tech , suffering shorts and the pumper longs.
This 10% jump in 5 days equates to an annual return of 500%. So needless to say your going to see a correction next week. AMZN doesn't trade on fundamentals just ask Nasdaq6K. It's a trading stock. Any trader with a 10% gain will not give it up. Once the momo stops this pulls back hard. We are at a major resistance point, 3rd time at this level. Unlike last time we are on a down trend. Failed to break it today. Loaded up in a big way today in the 237-238.50 range. Patients and leave some capital in case it goes higher...but I doubt it. Have a Happy Thanksgiving! - PJ
Sentiment: Strong Sell
hi kenji, i shorted back too soon, now not feeling too well like many other shorts. I guess that
is the price to pay for being short. hope amzn's down days will come sooner than later.
I will free up cash from other positions before I will pull this one off.
FYI, looking at the 13Fs, it appears Capital World is a responsible fund manager (cutting exposure in a measured way)... Some others are going to have a lot of explaining to do...
i covered some and added a little back near the close at 221. i think it may pop up at least to test 225 area when the market turns, and i will add them back at that point. but i may never get it if it goes the way of apple.
good luck to you too.