Friday, May 04, 2007

AMZN puts, short Amazon

Buy AMZN May 65 put. Like I wrote early, Amazon came into earnings with seven days worth of short interest. Well, today is day seven. Yahoo takeover rumor adds support to the segment. A pullback to 60 would still remain full bore bullish. A pullback to the breakaway gap at 52.5 would also be a normal move.

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