$AMZN TOP 20
Added 2024-06-21 09:48:48 +0000 UTCI sold 20% of $HIMS yesterday and put it directly into $AMZN for two reasons, $AMZN is in a bullish set up, however still needs to break and hold above the $190 level but it is at a breakout level that has been held since 2020, we have seen lately on some mega caps that these levels have been broken with explosive moves.
$AMZN can also be seen as a hedge against the market (arguably, as items are cheaper on $AMZN, so price conscious shoppers may look at cheaper alternatives on $AMZN)
$AMZN is also a core stock for me, so regardless of what happens here, I will feel comfortable holding and/or if there is a breakdown of the wedge, I could consider selling that position again and going to cash until the pull back completes, so I have given myself a number of options here
Our aim is not to avoid risk, we need to take on risks with investing but we manage risks, making a plan, sticking to it and have options.
