Friday, August 23, 2013

5 Month Laters AMZN - AUG 23 2013


My only and best call for 2013.

See quote from Post: "AMZN Update April 2nd 2013 Update"

"If support can hold up trend still in tact = Buy in 240-250's range. Depending on how strong conviction is or trading style (waiting for confirmation on up swing, pre-emp buy in before move, scale in slowly pyramid up on confirmation). "


Buy in at 240 - 250 was the correct zone to buy in. The trend materialized one month later in May for the buy zone and unfolded through MAY --> JUNE --> JULY. Finally, the short term trend peaked out in the 310 range making about a 20 - 30% gain on price from buy in zone to peak.

Hell, the trend still looks healthy to me. However, we are exploring uncharted areas in the 300+ range. Fundamentally is AMZN sound? I dunno, but management still remains strong and if the core values are still there we should continue to see continued long term uptrend.

No comments on current correction in play. Possible pyramiding area if you buy into the continued up trend in the short term... hell look at the S&P500 this past year. Crazy stuff. (remind me to not say this is a call... NO BACK TRADING... more of light observations)


Longer long term view... hmmm, get that gut feeling that internet is going to be another bubble either that theres just too much possible collapsable focus in the space despite there seemingly being more grounded reasons to be in internet vs. circa 99 - 00's ...
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