> Barring a miracle, this does not look likely today
Glenn,
Ooops! Guess I missed that one. But hey, if I NEVER miss a single prediction of my own, I wouldn't be here talking to you guys, right? In fact, I would be satisfied if I could be right 51% of times. So far I still maintain a higher % than that. After all, my correct calls in the past 3 days have made myself more than $50K. It's gonna be converted to a Lexus 400 this weekend.
I did say that we need the market's cooperation to push to that magic level. With the general market's down pour in the last hour again, I felt we were lucky enough to stay above $170 at closing!
I have to say, though, that somehow now I do feel that AMZN is a bit tired at this point. If the general market turns to very positive tomorrow morning, we should see AMZN starts at above $175, and pushes towards $180 one more time. But if the market opens with 80 pts loss as today's market trend suggests, we might see AMZN struggles a bit to stay above $170 level. In any event, as Jan said and I agreed, with the long weekend approaches, it is only normal to expect people to take profit in late afternoon after a heck of 50pts run this week.
I think the down side risk is about 5 ~ 8 pts from today's close. The worst scenario won't get it below $160.
But, I think next Monday we shall see a whole new story. With Q1 results within reach, I think AMZN will resume upward momentum. We may finally push the thing above $200 by next Wednesday!
Good luck!
MB
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