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Post by huh on Apr 3, 2014 12:54:45 GMT -5
Short AMZN 332.50. Missed most of this last down move scared it would go for the higher FIB, and because VIX wasn't participating. But apparently AMZN doesn't care about those things. Hard stop 335.83. I have a friend that's been following and profiting from these AMZN calls and he's a very close friend of my in-laws, so I have to use VERY tight stops. Plus, I'm still scared the market could turn at anytime (but more scared to tick off my in-laws).
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Post by huh on Apr 23, 2014 8:34:21 GMT -5
Haven't updated this in awhile, so here's the chart. This rally since the 04/15 bottom only backtested the neckline of the larger H&S (orange). Some AMZN news this morning caused AMZN to bounce back, but again, right back to the neckline. AMZN has earnings tomorrow, so I think we may finally see this lower target hit soon after that. It's this H&S, and the H&S' in things like NFLX & FB & GOOG that cause me to believe that tech may see a few days of pullback. Even AAPL shows a potential bullish iH&S building, but needs a little more pullback to hit the RS target. The funny thing is that these names have been pulling back for some time. So about the time NDX starts showing it's own larger bearish pattern, these names will have already hit their lower targets - one reason why I think those NDX bearish patterns will likely be broken.
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Post by huh on Apr 28, 2014 11:04:36 GMT -5
Sorry for any rambling/confusion today - still sick and after re-reading some of my posts I must be fevering - thought it was only hot here. Going to rest, but wanted to FINALLY close this thread up. Target's almost hit now. Trading around 290 with a 280 target. My friend who's been trading these moves is currently up nearly 58% on these long/short calls, and more than 51% of that is already locked in gains. The rest is paper trade with his current position. He is short from 334.25 for a 282 target with a stop against 296.50. The trade is done when one of these two hit. He's as happy as can be and says this trade will be his last trade/investment for the year. ( I'll see about that. ) But I want to gloat for a minute - I called for a top in AMZN ~405 before it ever hit 400. (even called the pullback from 399 before the run to >400). But most importantly, this was a call for a parabolic top. Something's that's not supposed to be able to be done. Called it within 1% of the top of what I still believe is/was one of the hardest stocks to short in the history of the stock market. See if you find that in any technical analysis books out there. Going to rest now. BOL all.
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Post by jacksrbtr on Apr 28, 2014 11:38:53 GMT -5
Nice work huh! Get some rest you've earned it.
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