I have mentioned last week that AMZN was trading above support which was at 194$. That has been broken now. Stocks sometimes go slightly below the support, to again close above it in few days and then rally higher. Either way, when we reach a pivot point, it is wise to buy a strangle, ofcourse atleast 1 month after this OPEX.
Higher or lower, it is very likely that AMZN will get volatile in the coming days.
Grapevine is that Texas is investigating Amazon on its internet taxation, and Amazon also owes 1.5 B $ to IRS.
AMZN at a pivot point
Started by
DrSP
, May 16 2011 02:19 PM
No replies to this topic
#1
DrSP
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Posted 16 May 2011 - 02:19 PM
You could be a billionaire or an industrial worker or a teacher or a moderator of a forum - Hold a good conscience because that is what matters.
