AMZN: Weekend Review
Updated
Took an AMZN short late Friday. My analysis of the trade and thoughts on whether it was the right or wrong trade.
Trade active
Still in this, but bounced hard today with the rest of the market. Couple lessons learned here:1. Do not buy a high theta name on eod Friday. Two days of theta at ~1.50, had me down ~3 even at the dip to 1500 today.
2. Do not play a strong name countertrend at support levels. The cloud showed its strength here and I got smoked.
I did not close this trade yet, as the week is young, but considering this a loss.
Trade closed: target reached
Closed position on the 1400~ test. 400% gainer. Fun game we play
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