Last Update: 4.22.13
Related Articles
Article from 2.1.13 “7 Proposed Indictments on $AMZN”
Article from 2.20.13 “I Faced $AMZN Bulls Head-On” (Part 1)
Article from 3.13.13 “Facing the $AMZN Bulls Head-On” (Part 2)
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4.18.13 Thursday
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(65mins) Yesterday Mid-Day (Bearish @ $268.03)
(65mins) Today 1 Hour In
Double top neckline is tested, failed, stock tanked.
(Daily) Downtrend Channel with Lanes
Looking at this daily chart, I am setting my target at around $253-$248 (bottom of the channel). 25th is the ER so I have about a week before I have to get out of this trade. I think I will have plenty time as when $AMZN moves, it moves.
Closed 1/2 of My Bearish Positions @ $257.11
(1 Hour Before Close)
Riding other half and holding overnight.
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4.19.13 Friday
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Added More Bearish Positions @ $261.85
Added some bearish positions on a pull back earlier today and so far doing well. Holding positions over the weekend and $250 target next week.
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4.22.13 Monday
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All Positions Closed Out @ $263.44
Done trading $AMZN until after the ER (25th after close).
2 thoughts on “Facing the $AMZN Bulls Head-On (Part 3)”
Amzn’s business fundamental is broken due proposed “amzn tax bill” and it has no advantage over other retailers like wmt, goog and ebay. After the earnings report it is down big. Do you think it has a lot to fall from TA perspective?
OneupDouble yes i do. this is my article from Feb. https://2tradersclub.com/2013/02/01/7-proposed-indictments-on-amzn/