Friday

Amazon Crash

Post a Comment July 23, 2010 – 1:47 pm |   | Permalink |  Print This Post |

We have been writing about Amazon since Feb 2010 and shorting from 110 to 150 and have amassed ALOT of Amazon shorts. It is down 10% tonight , now at $107. Easily hit $80 (both technically and fundamentally), so more room to fall. For those who went in with us and are happy with the profits, feel free to take some and put a stop for the rest to lock in some profits.

We have a total of 320 Amazon shorts ($40780 worth) - average entry $127.43. Unrealised profits of $6540.

Order to close 100 shorts at 99.80. (breaking of $100 as per round number theory) to take a profit of $2763.

Order to close 220 shorts at 80 - profit of $10434.