what goes up, must come down. AMZN once came down $25 in about a two month period. I saw AMZN at 50, then AMZN at $25. So if AMZN can go down $25, then that means it can go up $25, and it did. And i shorted it. I also was inspired by the RSI 94.2 reading. That’s a fairly strong short sell signal.
i bought the may 60 put for 1.80, and plan to sell it for 2.40 or higher, amzn will have to come down to about $59, to get around $2.40 or higher.
Eventually, amazon has to test the gap up price of $53, so we’ll see. I’m 70/30 thru 80/20, this PUT play will make money at these prices.
zee
downside, amazon goes up a little more, in which case, i'll keep accumulating the May 60 puts.
also buy AKAM, for goodness sake. AKAM, posted it's low price $45.92 for this cycle at the staple center Jumbo Tron. Revenues are growing about 40% a year. Look for more yearly highs, say in Q4...
2 comments:
amzn seems like a good play all around profit taking at least will bring it down some, and the gap? will be tested but when is the question, they put out some good numbers this qtr. good luck with it tho,
nah, me and jake are good now, we both enjoy a good verbal scrap once in awhile, little entertainment, nothing personal, seems like we got the same personality probably.
thats why i'll miss the anon. posters at TK blog, nobody to tear into once in awhile..
plunger
i think you're right about amzn taking a while to test the gap. I just thought it prudent to point out the gap.Amzn should test $53, at some point in the future and when the june puts become reasonably priced, amzn might be worth another look at that time. Today's RSI 94 reading, had me baffled. I think it's worth it to try..for a one day swing play.
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