Smoking Securities

Half Baked High Finance

Today’s Twittered Tickers $AMZN $FCX $GLD $PLD $WMT

with 2 comments

Here are the tickers making noise on StockTwits
The last time I mentioned AMZN was here, and contrary to my forecast, it has risen over 15%. Now that it is approaching the upper Bollinger, I’m technically more bullish, but I suspect this stock is an investment trap.
FCX remains in a vicious downtrend, but a bounce to the upper Bollinger looks like a potential trade in the coming week.
GLD is rising on non-existent volume, but a breakout would be a nice place to trade a long scalp, and then swing short on a pullback to the trend line.
PLD is experiencing a high volume rally with tons of momo, and though it looks due for a pullback, it is a dangerous place for shorts to play.
WMT continues to show strength, but like AMZN, I suspect that fears of fundamental economic weakness will reemerge and bring this stock lower.

GLD is the most interesting trade on my radar, because it is an indcator of global economic stability. Weakness in gold will reestablish deflationary fears, but if it starts to make a run for 1000, there will be talk of hyperinflation. AMZN and WMT have had nice bounces, but regardless of their sector out performance, they will be dragged down with their siblings if there is no sign of economic relief in 2009.

Written by chucklesamadeus

December 26, 2008 at 6:30 pm

Posted in AMZN, FCX, GLD, PLD, StockTwits, WMT

2 Responses

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  1. Two thoughts.
    Firstly regarding Amazon i wouldn’t underestimate the impact of the kindle.
    Secondly regarding GLD i would be wary of reading too much into low Christmas volume.


    December 27, 2008 at 12:48 pm

  2. Kindle is a great product, but I don’t think it can be the core strategy of AMZN. Fundamentally it is a consumer electronics item which will be rendered obsolete by another generation of readers.

    I can’t agree more about GLD, the low volume really doesn’t inspire confidence, no matter what direction you trade.

    Charles Amadeus

    December 27, 2008 at 12:57 pm

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