Amazon is Awesome

Friday, May 18, 2018

Friday Market News


  • Since 2pm on Wednesday, Boeing (BA) and Tesla (TSLA) have moved in almost exact opposites according to their charts. Thursday and Friday, Tesla was down and Boeing was up. Tesla appears to hit a level of resistance to the downside Friday at 275 and Boeing is at a level that I have seen it stumble on this year. I wouldn't be surprised if both continued in their direction on Monday and reverse course on Tuesday.
  • Alphabet (GOOGL) dropped prior to the market opening on Friday due to old news that Google may face monopolizing claims based on their shopping results. Sounds like garbage to me and according to the charts, it was due to come down. I would expect it to start down on Monday, hit a level of resistance around 1060 and take off to the upside for the remainder of the week. 
  • The banks came down further on Friday, Walmart was nearly unchanged, but Home Depot had its regular Friday run. Trump tried to blast Amazon again with a Tweet to say that he recommends the post office to double shipping rates for Amazon. I wish they would double the rates on businesses mailing crap post cards and Discover with their crap credit card offers of 3 to 4 a week.
  • What should we expect for next week? Higher interest rates? Higher oil? More tarrif talks? Korea issues? There are enough issues in the world that you can pick a number of reasons why the market might react in a negative way. Ultimately, the market is based on earnings and cream will rise to the top.

No comments:

Post a Comment

Profits Only, Please!!!

I have spent the last 2 years trying to figure this day trading with options thing out. I hit an ultimate low this past Tuesday and felt lo...