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| Symbol | Sector | Return | Exposure | Trades | Last Trade | Status | |
|---|---|---|---|---|---|---|---|
| AMZN | Specialty Retailers | -59.41% |
|
75 | 13-Nov-08 | Currently Holding |
25-Oct-07
Amazon.Bomb
Holding Rationale for AMZN.
Looking at the price performance of Amazon.com over the past two months tells an interesting tale. An August 1st low of $76.12 led to a rally to $100.82 on October 23rd, the day it reported strong earnings (33% increase), on low volume. On October 24th, Amazon.com closed down 12% to $88.73. Today (10/25) it dropped nearly 1%. If we use the price performance of Ebay as an indicator of how AMZN will perform (both rallied on light volume and sold off on strong earnings), we can expect a price of $78 sometime next week. It will be interesting to see how this transpires. Either way, this is a market timing short sale. Use the 10/23 high of $100.82 to stop out.
Tagged Stocks: AMZN
Posted at 13:04 in Holding Rationales | Permalink | Comments () | Top
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