The opportunity to go short on Amazon.com (AMZN) was short-lived. Just last week I pointed out how AMZN triggered a post-earnings short again. I missed the first breakdown and was looking to play a second move down. It was not to be. Instead, on Monday, AMZN flipped back into bullish territory. I followed suit by buying a call spread given my expectation that this kind of breakout will embolden more buyers to pile on.
Source: FreeStockCharts.com
Be careful out there!
Full disclosure: long AMZN call spread