Monday, December 7, 2009

And even more on AMZN options

So I have almost ... just about ... cried UNCLE!  The stock itself, up until a day or two ago, just refused to go down (not bad otherwise for me, since I purchased a chunk long ago at ~$7 per share which I still own).  It topped out at $145.91 last Thursday, just 3 trading days ago.  Wow!  Completely unreasonable!!!  That is almost 50% percent higher than when it took its big jump on October 23, the same day I looked at it and said to myself:
"Self ... not only can this not continue much more, but it must go down ... It is just too big a jump!"
And how wrong I was.  Little did I know ...

What with this whole recession thing ending (more pundit-speak) and the holiday season upon us (yeah, I think this was my biggest mis-timing issue --- everyone is just so freakin' happy to buy things again), the stock price just kept climbing.

BUT ... these last 2 days she has sold off, down to ~$134 per share today.  HOORAY!!! (sort of)  And my options SOARED from their low of $.07 way up to a towering $.10.  That is a 43% jump just today!!!  Wow!  So I shall, very soon, place a limit sell order at, maybe, $.20, bite my lip at the loss, think better next time, and be on my way.  And enjoy the huge profit that I DO have on the shares themselves.

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