Face it shorts: AMZN is the "chosen one" in this market
it is rock solid as stocks like AAPL jump all over the place andcan't even recapture it's 200 dma. Rivals want to be them, or just hang out with Jefff Bezos, maybe the most universally admired leader of the web revolution.
"Chosen ones" is another word for bubble stock. Chipotle was the "chosen one" a few months ago. Netflix before that. More recently, Apple was the "chosen one". Being the "chosen one" always ends badly, especially with a 3000 PE stock. A torrent of capital gains selling is about to hit Amazon before year end, and it will be very fast action (down). "Amazon Falls", it will be called.
yes AMZN corrected to 167 right at the end of last year but is up huge this year and higher than the last highs of last year and well above it's 50 dma while AAPL is cracking and wallowing below it's 200 dma and failing. if it cracks 500, AAPL might crash as it's rt shouldering off secondary highs with a huge H&S top being made.