The Long Investor

$AMZN TOP 20

Added 2023-11-04 20:13:42 +0000 UTC

$AMZN has gained 17.8% since its earnings call and has performed even better than expected and rightly so, the earnings were excellent with all important metrics increasing.

I said before the earnings that I bought at $119 and $AMZN accounted for 30% of my total portfolio, so needless to say I had a good week and we have many members who have bought $AMZN who made significant amounts.

We said last week that a Mega Cap like $AMZN, $AAPL, $GOOG or $MSFT should be part of everyones portfolio, every one of these performed well.

So now we need to be prepared for the pull for Subwave 2....we can't say that Subwave 1 is complete as $AMZN kept running until the end of day on Friday so we will see how Monday behaves, it may still go higher to $143 which was the high in early August.

Either way I will expect a pull back, some people may play a risky game here and sell and then buy back in at the bottom of Subwave 2.....but this is always a difficult game to play, as the 0.618 Fib is a target and not a definite hold level for Subwave 2.

So if you are going to do this, do not be greedy, don't risk your position for the sake of 1 or 2%.

I will likely just hold and I will look at adding again if I can buy more around $126 or lower.