Lee (aka PblicSrvnt), traders don't need conspiracy theories ...
and as you've pointed out before, valuations aren't much help
either. The trend on AMZN is currently up, light volume or not,
(it only takes one bullet to kill you ... :)). Maybe, expectations
of a big announcment at earnings time is driving the stock higer.
Maybe the Motley Fool's "Hold" rating, BARS (Benjamin) buy rating,
the Wash. Post Artile, the Time article, The Forbes article, are
highliting Amazon's successes and downplaying its risks. Whatever
it is the stock has tested support in the 109 to 110 area,
a few times this past week and traded up from there. Technically,
it would seem, AMZN is likely to re-test its old high of
144 and even trade higher. Maybe it'll take a 2-1 split to lower
the stock price, and give a new group of speculators a shot at
AMZN, or maybe they'll blow out the quarter, and do much better
than expected. Who knows? But for now, AMZN is showing strength
and swimming upstream (heh, heh) is a losing proposition. |
