Last evening Amazon dropped around 8 percent on the news of their earnings expectation loss. Today they recovered most of it back because of the why the market is intrinsically tied together. All of the other news of earnings beats today rallied the S&P 500 to near record levels and AMZN jumped on the rocket back up!
Locally I added position to JD as I discussed yesterday bringing my
Portfolio to 800 shares at average acquisition price of 30.576. I’m looking to dump these at slightly below resistance peak which I estimate is 31.5. I’ve set a limit sale at 31.4.
The other asset in the portfolio, BABA has also benefitted from the great news today and I am still gauging whether to hold on or drop it off at a relatively soft resistance point of 177.
Update
JD Sold!
Purchase 800x30.57= 24,461
Sale 800x 31.15= 24,920
Rationale:
Appeared as though there was strong resistance at 31.2, decided to exit before the “elevator” arrived.
Profit= $459
Locally I added position to JD as I discussed yesterday bringing my
Portfolio to 800 shares at average acquisition price of 30.576. I’m looking to dump these at slightly below resistance peak which I estimate is 31.5. I’ve set a limit sale at 31.4.
The other asset in the portfolio, BABA has also benefitted from the great news today and I am still gauging whether to hold on or drop it off at a relatively soft resistance point of 177.
Update
JD Sold!
Purchase 800x30.57= 24,461
Sale 800x 31.15= 24,920
Rationale:
Appeared as though there was strong resistance at 31.2, decided to exit before the “elevator” arrived.
Profit= $459
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