Extended markets ran into resistance where expected this week, within the Sept. S&P 2810-2820 (S...
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07/12/2013 7:00 am EST
With its stock trading near an all-time high, Ryan Mallory of SharePlanner.com makes the case for why it's time to sell this tech giant and book some profits now.
I've made some nice coin off of Amazon.com (AMZN) over the past year.
However, if there ever was a time to sell the stock, right now is the time.
That is history and consistency I don't want to mess around with.
Here's the breakdown on Amazon (AMZN):
I don't currently have a position in this stock, but I will consider trading it short at the start of next week, especially if it fails to break through and hold the $300 level at the end of this week.
When stocks are as bullish as Amazon (AMZN) has been, it can be hard to imagine a strong two-three-week retraction, but mark my words, it is going to happen, and happen very soon.
By Ryan Mallory, Founder, SharePlanner.com
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