Wednesday, July 1, 2009

AMZN - Final for July 1

Quick follow up to earlier post on AMZN.

Weak rally attempt after 2:30 low; retraced about 45-50 cents; but retested lows for the day several times, before turning up modestly at the close.

Notice how AMZN trended downwards from 10:30 am; and only into the close did it break above the downtrend lines (weakly).

Whether this means anything for tomorrow or not I don't know. It would not surprise me to see AMZN retrace 50% of the $3 drop (high to low) tomorrow; so let's look to see if it can go to +/- 83

AMZN could just as easily keep going down.

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