A high level breakout on AMZN Amazon punishes the bears. Arrogant shorts publicly announce taking on large new or additional short positions. I interpret this to mean AMZN is likely to go higher. My technical projections are 73 to 78 (chart) with the stock currently at 68. Risk is high for both longs and shorts.
To think I made money buying puts on AMZN just a little while back. Today I am tempted to go long, however, that would be more of an excitement and sentiment trade than a risk-reward analysis.
Elsewhere, CPB Campbell Soup has decent earnings. JWN Nordstrom and JCP Penney had good earnings last week. WFMI Whole Foods Market is opening up some large stores with a higher level of service. WFMI is a fallen star, having lost its luster. Moving more up market may help. Valuation of the stock is reaching a reasonable buy level. Technicals still look weak, with a projection to 35 (currently 39 to 40).
No current positions.
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