We typically limit trades in this stock to mechanical bids and offers only, since entering on buy- or sell-stops is simply too hazardous. During this session, shares had slowed to a crawl ahead of the Thanksgiving holiday. AMZN was swimming against the tide, however, up more than $10 with the broad averages trading flat to lower. What to do? We found a promising rally target to lay out a short, but it got squeezed into oblivion. In the end we found a compelling reason, in the form of a ‘guaranteed’ rally target, to go with the flow.
