{"id":343,"date":"2009-01-29T21:16:05","date_gmt":"2009-01-30T02:16:05","guid":{"rendered":"http:\/\/www.smbtraining.com\/blog\/?p=343"},"modified":"2023-04-10T17:09:25","modified_gmt":"2023-04-10T21:09:25","slug":"making-money-in-amzn","status":"publish","type":"post","link":"https:\/\/www.smbtraining.com\/blog\/making-money-in-amzn","title":{"rendered":"Making Money IN AMZN"},"content":{"rendered":"

So I ran out of the office after the Close to grab a couple of slices of pizza.\u00a0 By the time I got back AMZN was trading up 5 points.\u00a0 About six traders on the desk were actively trading it in the after hours.\u00a0 I quickly gathered some information from those who had been watching it.\u00a0 There was selling at 55 and 55.10.\u00a0 We were all going to get long above 55.10.\u00a0 When the seller lifted AMZN traded up fairly easily to 56.<\/p>\n

I find trading in the after hours somewhat easier than market hours if a stock is truly In Play.\u00a0 There are only a few patterns that take place in the after hours based on an earnings report and there are no annoying computer programs.<\/p>\n

Today,\u00a0 AMZN was following the classic pattern of a stock being accumulated after a good earnings report.\u00a0 A quick multi point pop followed by strong up legs when any significant level lifted.\u00a0 The day traders and hedge funds buying the stock all were looking at the same long term chart.\u00a0 They saw no major resistance until the 58 to 60 area.<\/p>\n

I was able to make some good money long from 55 to 57.\u00a0 Then I gave a lecture to our newest trainees on trading a stock in an uptrend.\u00a0 When I came back to the desk AMZN was trading at 56.70.\u00a0 This is very bullish for tomorrow.\u00a0 There is a good chance that it will gap up further in the premarket.\u00a0 Stocks that close the after hours near their highs tend to gap up higher the next morning.<\/p>\n

In our AM Meeting<\/a> AMZN will be one of the featured stocks for tomorrow.\u00a0 The ideal trading pattern would be profit taking on the Open down to the 54.50 to 55 area.\u00a0 Then an explosive move up to 57.\u00a0 Ultimately,\u00a0 if AMZN were to trade up to 58.30 or higher it will offer great opportunity to the more skilled traders on the desk.<\/p>\n

Regardless of its trading pattern tomorrow there will be money in AMZN.\u00a0 It will move a minimum of 4-6 points intraday and it has a very tight spread.\u00a0 Traders need not risk more than 10 cents on any given trade.\u00a0\u00a0 But it has the potential to move one dollar plus if you have a good entry point.<\/p>\n

\"AMZN<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

So I ran out of the office after the Close to grab a couple of slices of pizza.\u00a0 By the time I got back AMZN was trading up 5 points.\u00a0 About six traders on the desk were actively trading it in the after hours.\u00a0 I quickly gathered some information from those who had been watching it.\u00a0 There was selling at … Read More<\/a><\/p>\n","protected":false},"author":143,"featured_media":344,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1,15],"tags":[227,229,228,4676,18],"class_list":["post-343","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general-comments-2","category-trading_theory","tag-after-hours","tag-amazon","tag-amzn","tag-day-trading","tag-smb-capital"],"yoast_head":"\nMaking Money IN AMZN | SMB Training<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.smbtraining.com\/blog\/making-money-in-amzn\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Making Money IN AMZN | SMB Training\" \/>\n<meta property=\"og:description\" content=\"So I ran out of the office after the Close to grab a couple of slices of pizza.\u00a0 By the time I got back AMZN was trading up 5 points.\u00a0 About six traders on the desk were actively trading it in the after hours.\u00a0 I quickly gathered some information from those who had been watching it.\u00a0 There was selling at ... 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