Trading Idea Of The Day
Source: http://feedproxy.google.com/~r/StocksOptionsBlog/~3/Bg_dcOBITic/Posted on Wednesday, March 18th, 2009 | In Stocks to Watch
Contributed by: Daniel Shepard (http://www.navivest.com/blog) -
Tuesday March 17, 2009
Navivest
Shares of Amazon (AMZN) rose $4.37 to close at $71.35 in regular session trading on Tuesday, even after news came out that the company is being sued over its highly successful Kindle device by the Discovery Channel, which claims its founder invented the technology behind the kindle device.
From a technical standpoint, we like the stock’s action yesterday. However, the move was rather excessive and even if this turns out to be a sustained up-trend, we would look for some pull back before the stock starts moving again to the upside.
If the overall market is not too bullish today, we recommend shorting Amazon shares at current levels.
Tags: trade idea amazon amzn
Last 5 posts by Daniel Shepard
- Trade Recommendation For 10/15/09 - October 14th, 2009
- The Technical Trader – Coca-Cola FEMSA - October 14th, 2009
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- Stock Market Report – 10/13/09 - October 13th, 2009
- Stock Market Report – 10/13/09 - October 13th, 2009
Tags for this Post:
amazon, Discovery Channel;, highly successful Kindle device;, Kindle;, Stocks to Watch, USD
amazon, Discovery Channel;, highly successful Kindle device;, Kindle;, Stocks to Watch, USD
 About Daniel Shepard (http://www.navivest.com/blog)
Daniel Shepard is an Equity Analyst with Navivest, a stocks and options trading advisory services company that provides trading ideas on a subscription basis. |
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March 18th, 2009 at 9:02 am
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