Enjoy the ride
AMZN sentiment is so negative as they always spend too much money. But this was AMZN Xmas. So if Bezos can just not talk about more spending the stock will rocket like NFLX .. these 2 stock have a monster -ve sentiment
Technical chart pattern - Amzn did a triple bottom at 284. So all they need to do is very little +ve news
Notice SBUX, BA and NFLX move - all had massive -ve sentiment and they keep moving higher. I own all 3 stocks. Also own AAPL but really it should be 125 but it is not - because the sentiment was high. Same with yahoo.
BABA is a wild card.
Well I told you so.. So now what. Well pay attention to the way SBUX NFLX and BA traded -- all 3 stocks were hated. All 3 went up for 3 days in a row.
NFLX added 100 pt in 4 days
SBUX added 15% in 4 days
BA added 16% in 2 days
So AMZN should go around to 352 at first and then 368
The trade -- Wall st. hog washed everyone to go short AMZN NFLX FB and buy BABA.
BABA is near 52 low and these are flying. All the smart money get it in the #$%$ with both long BABA and short NFLX and AMZN.. the natural trend is up as the trade get rewind.
BA, SBUX NFLX HAR all had multi day run to the upside.. This is day 1 for AMZN no rest will 370
The sell vol was a 3 day run price consolidation and also due to convertible bond offering. The bond offering is over subscribed and upped from 1B to 1.5 B .. And hence the stock rallies. Bottom line I was right to predict that AMZN will take out last week high of 454. TOO MANY shorts are trapped and need to cover and hence rally gets more rally -- to 470..
Notice all the stocks with massive -ve sentiment.
BA jumped 15%
Sbux jumped 15%
NFLX jumped 33% and went up 4 days in a row before pull back
AMZN jumped 30% and went up 5 days in a row.
I called the rally in NFLX AMZN BA -- TWTR I am long because of the same reason. It first need to claim where it broke down from that is 50. Look at the March 50 call volume - its a monster. More analyst will upgrade the stock next week, just like they did for NFLX and AMZN..
So I bet we get to 54.86 very soon.
get long ..
next week if Greece loan program gets extened
454 was first resistance and now support. Strong rally at the open. and then retest of support.
Still breakout mode. target 489 to 500.
AMZN is about to take out 52 wk high
AAPL to 130
FB to 80
shorts are really trying to hold on--- but the PAIN will make them cover
MASSIVE SHORT COVERING ...
I called the perfect bounce on NFLX at 438. target still is 500
AMZN could take out 384 by tomorrow and short covering will put it at 400