Share your opinions and experiences on Stock Trading.
4/7/2010 4:00:23 PM
SunSet
Posts: -18
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In todayâs AM Meeting I mentioned that AMZN has been unusually weak the past couple of days. If it got below 130.50 I thought there would be a lot of momentum longs who would panic and the stock would drop to 128.
That trade never materialized. The first move in AMZN was up. The second move in AMZN was up. The third move in AMZN was up. Are you starting to get the picture? Everything on the tape was indicating that AMZN would most likely return to 134.70 where it collapsed from last Thursday. And that is exactly what it did.
One of our traders decided to short AMZN.
http://www.smbtraining.com/blog/dont-let-an-idea-end-your-trading-career
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