How Technician Traders Saved Amazon
Wednesday, July 28th, 2010
Some movements in this mart are so confusing, Cramer said Tuesday, they seem to hit no logical explanation.
Take Amazon.com [AMZN
Loading...
()
] for example, which reportable a unsatisfactory lodge weekday that included a 9-cent earnings miss. Where profits came in at 45 cents a share, analysts had wait 54 cents. As a result, the hit unsealed downbound nearly 15 points from Thursday’s near of $120.07 for a 12% decline.
This action, Cramer said, is what you would wait from a ontogeny hit that meet reportable a bounteous earnings miss. But then Amazon backward its losses intraday and winking at $118.87, which was meet $2 unsure of its trading toll before the quarter.
“I hit to confess, I was completely ..read more