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  • ex.goldbug ex.goldbug Jan 21, 2013 6:38 AM Flag

    Lets Compare Notes--Bulls & Bears, what price levels would get you concerned?

    I would get concerned if volume on the rallies started to increase. So far, low volume has not confirmed the rally. As far as price goes, If AMZN exceeded $300 on better than expected earnings/revenues (unlikely imo), that might indicate a blowout top in the $320-340 area. But the volume would have to confirm. I still believe the most likely scenario is a significant pullback (20%?) after earnings on Jan 29, since I'm 90% certain they will be less then consensus. Ultimately, a retest of the $205 area. If earnings and revenues exceed estimates seems very unlikely given the macroeconomic picture--weak retail sales + sales taxes.

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837.31+8.26(+1.00%)Sep 30 4:00 PMEDT