Jumat, 15 Januari 2010

Swing Trade Aborted - Amazon.com, Inc. (Public, NASDAQ:AMZN)

The AMZN swing trade was aborted in early trade. Weak retail sales data threatened a retest of the lows so I bailed with a profit rather than wait to be stopped out.

On the daily, I'm hoping for a breach of support so that more shorts get triggered, followed by bargain hunters piling in, leading to a short squeeze.

Today is OPEX. Early indications - JPM selling off on earnings, INTC giving back most of yesterday's AH gains - imply weakness.

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