Friday, October 19, 2007

SOLD OFF JASO AT $50, BUYING AMZN

Why am I getting out of JASO? I have gained my usual 20% profit and am willing to take that. I'll just leave my reason for selling at that.


I am going to buy AMZN, however. The reason why - it is in oversold territory and near "support" which was the late-July breakout to $89.00. Since that breakout, there has not been a lot of selling and I enjoy buying near support levels. AMZN is also in an industry that has a lot of money flowing into it so that is another reason to buy. If an industry is moving up in price, it usually pulls up the stock too.

Good luck trading.
JD

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