The Long Investor

$AMZN TOP 20 UPDATE

Added 2023-08-04 12:38:31 +0000 UTC

OK I am just provisionally uploading this and will upload again over the weekend as part of the Top 20 List, after seeing some price action today.

The earnings were smashing and I am delighted to see how well they are doing, you all know how bullish I have been on $AMZN which is why I have been buying $AMZN since March and no other Mega Cap stock, apart from a little bit of $GOOG.

The PM price is right at the 0.618 Fib now at $140, hovering around this area.

Wave 4 could be complete now as a I see 3 waves since since high at $137....however it is very short, if we compare it with how deep Wave 2 was....so we will just lean on the side of being cautious here until we get a clean break above $140.

$AAPL is declining after a beat earnings but the details are showing declining sales across the majority of their products.

So I want to see how much influence $AAPL will have on the market.

That being said, $AMZN is certainly the safe money here and this is why we advised not to play games with $AMZN, and not to sell before earnings and try and buy at $120.

I have no problem waiting for $AMZNs ABC correction to buy at a lower price.