AMZN rallied 49 points off Thursday’s low, peaking a too-coy 25 cents shy of $1000. My gut feeling is that DaBoyz have been a little too ambitious in trying to recoup the June 9 tech avalanche so quickly. If AMZN runs out of steam as I expect, look for the broad averages to struggle for at least the next couple of days. Index futures were up the equivalent of 50 Dow points Sunday night, but this looks more like distribution to me than enthused buying.
Rebound Looks a Tad Too Ambitious
- June 19, 2017, 4:04 pm
We sold TQQQ short today on war rumours.
Best wishes Rick et al