I love Xmas, but I hate shopping for Presents. The parking, the crowds, the out of stocks, the lines and that sinking feeling that I could probably have gotten the exact same thing online cheaper
This year I bought 80% of the gifts online – with the only exception being a shotgun for my oldest son who is just starting to get into shooting trap.
Of the stores I bought from, Amazon, Ebay, Macy’s, Toy’s R Us and giftcertificates.com – Amazon has the easiest shopping experience by far. They also had the best prices, with the exception of an ASUS Tablet I found $50 cheaper on Toys. AMZN also had the fastest shipping and best tracking of the purchases.I kind of think Jeff Bezo will eventually do to internet shopping what Wal-Mart did to main street. It’s not a question of if, but when.
With that in mind I wanted to chart AMZN
Right now, it’s below it’s 50 and 200 day MA and has also broken a major support line trending back to Aug 2010.
So If we’re guessing where it might have support – I’ll guess $160 for a couple reasons – the horizontal profit loss trendline which just happens to match perfectly with the 61.8 Fib retracement level.
Like a lot of the “Pretty Girl” growth stocks, there could be even further significant downside if / when Europe tanks.
After that bottom, I want to own AMZN
Don’t use this post as a reason to buy Amazon or the hot blonde on the chart will nickname you “Tiny”
