Monday, July 29, 2013

Half and Half

Here we are again. Coming out of another week of earnings and it looks like lots of names still want to just keep going up. Tonight I am looking at $AMZN, $LNKD, $GOOG and $NFLX

Although the market keeps going up against all odds, I still am looking at these 4 split, 2 long and 2 short.

First let's look at $AMZN

Friday, this name zoomed up well over 2%, over 309.50 resistance and into all time highs. All this and still with tiny margins and no actual profit to speak out. But $AMZN continues to trade as if it is going to be making more money than any other company any day now.  I am not going to be chasing this one out of the gate but if it dips to the breakout support, I would definitely be adding.


This name is hitting what I think it a long term up-trend line. After selling off after earnings and not being able to fully recover, I am watching this line for a break and a possible short.  100d SMA would be a target although I think it could go lower to the previous hammer low from 6/6 16 at 847.00


This name I am looking at only because it is breaking out to new highs. Volume is up in the breakout but not as much as I would like to see. I am very hesitant with earnings coming out on the 1st of August. I will probably avoid it until earning are out but it is definitely tempting.


Strong name that is not an easy one to short but I am watching the break below the previous break of 248.00. Volume was pretty huge on the way down and I am looking for a target at the 50D SMA or the lower upward trend line. I wouldn't stick with it too long given its previous strength and volatility.

Happy Trading

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