$AMZN: Topped long term, short it

NASDAQ:AMZN   Amazon.com, Inc
I'm short $AMZN from here, I had briefly ridden a daily down trend signal before, but now we have a massive monthly topping pattern kicking in. I think it is a good market hedge, and might be a great long term pair trade to short it against energy longs as the ultimate reopening/end of the stay at home bubble trade. Bezos leaving was the kiss of death, antitrust risk is massive for the company, I can see this become a lengthy and very painful decline for shareholders. Better abandon ship ASAP .
This might be the canary in the gold mine for FANG as well, the rally since 2009 lows is likely over and we can expect a 2000-2012 style move again. Lots of pain for hodlers, don't be left holding Bezos' bag here.

Best of luck,

Ivan Labrie.
Comment: First target reached, I believe this has legs but will take Herculean discipline to hold.
Comment: I took profits in my bear put spread up 3.37% in a few days, my short stock position is up 1.7R, I'll hodl that one, will try to reenter puts after a consolidation or retracement here.
Trade active: Going short again...
Comment: I had sent updates via Twitter but not here, had covered the short in profit for 1.7% gain and reshorted higher for more gains...Proceeds were 5.4% total so far.
Comment: Likely screwed up covering earlier today...

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