I also like Amazon’s chart:
- it’s been forming a base for almost 5 months
- it’s at the midpoint of a yearlong hook & barb pattern
- the 200dma is rising
- a key exponential moving average looks like a breakout
Having said that, the valuation is rich and profits slim. So I’m taking a smaller position than normal, about 1% of total portfolio. With markets near record highs, I’m more risk averse than usual.
FYI- my email server has been glitching…if you didn’t receive Monday’s ALERT, you can read it here: This week’s setup for a Santa Claus Rally climax
The Robots are Coming: A Human’s Survival Guide to Profiting in the Age of Automation available at AMAZON and all fine bookstores.
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