AMZN had a bit of a bounce yesterday, but it was weak and short-lived. I am pretty sure the party is going to come to a crashing halt for this company and the entire US economy and that we might be starting a downtrend now.
Everyone is very optimistic about AMZN's upcoming Q3 revenues and expected it would beat the EPS estimates. Would you be still short if its ESP beat the estimates by great numbers and the stocks shoot up?
CantorTechnologies
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@zeebytes, Oh yeah. It depends on how your positioned though. If this short is like 5% of your portfolio, you could leave it alone for years. If it's 100%, I would just have a stop loss that locks in some profit.
Took this bounce opportunity to sell my last positions on AMZN, agree with resistance at 1600 (1640 50DMA), not a catastrophy, rather healthy pullback for what has been a great hot market this year