Friday, April 26, 2013

AMZN

AMZN is acting more and more as I suspected, at first glance I was thinking a dead cat move and not looking too much further ahead, I figured once we get past that, we'll see what it looks like, however after putting AMZN in to context via market analysis, here's what I'm thinking...

AMZN will likely make what appears to be a dead cat bounce, the indicators today are improving, but rather than be just a dead cat bounce, I think it could be 1 solid move that takes us right to the area we want to be in, above $282-$284  in that area and on the way there, the distribution should be intense. By the time we are there, AMZN should have a strong leading negative divergence making the price move an easily recognizable head fake move and that is where we'll likely find the prime short set up.

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