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Wednesday, February 3, 2010

Visa Earnings - After Hours

V - Came in with good numbers after the bell, however there maybe some profit taking in the morning on this one. Appears supply is around the $86 per share level, which should be a great shorting opportunity.

Remember, big EcoNews report are still on deck for this week.

AMZN - Has completed a bounce off of the Nov 4; low and price is still under the MA and volume was pretty light at this point time. We will see how this market will play off the demand level for this stock. A big player does not want it to go below $115, for some reason. Humm, TA suggest a M pattern with lower highs and lower lows. As you can see we have pushed below (last two trading days with tails), however, we have not made a closing of below the $115 level on a daily basis. A break below will drop the stock to $110 per share.