Lizzie,
In my time trading/investing I have noticed that on days such as today accumulation is in process. If you have access to L2, you can see who is stepping in. If not, there's a site thomasinvest.com that lists buy interest. I personally don't give that site much credibility, but it gives you a basic feel of what is happening. I followed AOL down. Bought my first shares at 86, and then at 81. The reason was, there was no "real" bad news. One of the major investment mags put out a nasty article on AOL. I honestly believe it was because MER needed to accumulate more AOL for their internet fund. That is what you are seeing here. You fill the message boards with make believe shorts claiming AMZN is through. Then you put out some bad press on how they cant maintain their growth. All the while, the big brokerage houses are buying shares, and chatting with the MM's in order to hit stop losses and create panic selling. I have rambled here. Accumulation is done by big money. They can get stock cheaper, so they do. TA on AMZN shows it has bottomed here. williams is bottomed, MACD is heading south, stochastics have bottomed, and money flow is at a 30 day low. Christmas is right around the corner and AMZN is held by almost every internet fund out there. More are appearing every day. AMZN is in the top four internet companies for b2c, along with YHOO, EBAY, and AOL. When things look the worst, it's time to buy. Wow, I didnt mean to ramble this long. I think I convinced myself to buy more. Thank you. |
