Amazon has been beaten down hard this year and I think its time to start scaling in long. Multiple factors are coming into play here as we approach the white line. I plan to start a 1/4th of a total long term position at the white line. As the chart develops and amazon makes its moves, I will update this post as to where I am adding to this long position (if I add).
I started a long at $85. I'm looking to add more at between $65-75 should it get there. I'm also looking at the $100 gap area to sell 50% of the position if it gets there before earnings. If it closes below $62-63, I'm taking the loss.