February 4, 2018 | AMZN Resisted the Tide for a Reason

If the Masters of the Universe were planning to pull the plug on the nine-year-old bull market, do you think they’d have run AMZN up $100 and closed it $40 higher on Friday when every other stock in the world was getting schmeissed? I don’t think so. AMZN is the Fat Lady who has yet to sing, and it looks primed for a run-up to at least 1541.06 before the final aria. If the broad averages have rallied to marginal new all-time highs at that time, the cynic in me would be very wary of Mr. Market’s intentions. It would set the hook as well as any scenario I can imagine, trapping bulls and bears alike. The former would be giddy about who-knows-what — National Jell-o Week? — and the latter would be panicked out of their long-tortured minds.
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Rick Ackerman February 4th, 2018
Posted In: Rick's Picks
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