Amazon's stock got clobbered today. Down over 4% today alone.
what are your thoughts on Apple now that it sold off and got back near the 200 day moving average?
Look at its weekly chart. It's still likely going to have a huge crash. It's $50 per share away from its rising 200-week moving average.
The gap between its price and that moving average is HUGE. It's also likely finished, or close to finishing its 5-waves up pattern.
Concerning Amazon, yes, it could have a huge crash. It's chart looks like NASDAQ 5000 before it crashed. Bezos won't likely have a net worth that's larger than Bill Gates for long.
yeah I can definitely see both are in need of huge corrections
Hey Sean, looking forward to you recommending aapl again. : )
Apple is grossly overdone still. It would have to fall a lot more and become out of favor with investors, most likely.
I work for Amazon currently, and we get stocks awarded to us with vesting periods before we can exercise a trade. I am trying to quietly warn my co-workers of the overvaluation, and showing them your technical analysis of the bubbled markets. I suggest they consider selling if they are allowed to get the most out of their benefit.
Awesome. Yes, Amazon is a great company that has a stock that is tremendously overvalued. I agree. Thx for spreading the word.
So far, the bounce higher in the S&P 500 can't even close above the 50-day moving average.…
The tax reform is working...almost from A to Z.
I'm not sure it's quite time to start buying yet, but when everyone else is selling, that's when I start buying even more.