Back to AMZN this morning at $158. Left it about a week ago, and have been wondering around in DCLK, CNET, EGRP, AMTD, etc. Made decent profits until yesterday when I bot a big chunk of AOL at $150s - well, you know the rest of the story. But thank GOD I had left a fair amount of resources on the side line, therefore could take advantage of today's intra-day drop the big time. Bot 500sh AMZN, 300sh AOL, and 200sh EGRP. Well, too bad that I missed CMGI.
To me, the sell-off in the past couple days was a must in order for these Net stocks to move higher. BKRS's Keith Benjamin said couple days back that he was expecting a 20% ~ 40% drop of the whole Net group. At the worst moment this morning, we actually hit that 20% mark. So looks to me we've done the correction, at least for now. I don't expect the Net group to have a big day tomorrow, but certainly feel that starting next Monday the Net group should rejuvenate. With EGRP reports before the Monday morning opening - almost a sure blow out result, and NSOL, CNET and AMZN follow later in the week - every single one of them is expected to have result way above the expectations, I can expect that all these stocks will go back to their 52 weeks high. In the case of AMZN, we might even see it trades into $250 range, if we get Bezos' help of a split announcement.
Good luck to us all!
MB |
