Thinking about Intel (INTC) and Amazon (AMZN)? Here are mine….. (July 15, 2015)
AMZN INTC SMH
I want to look at a couple stocks today. First of all amazing Amazon ( NASDAQ:AMZN ), they report earnings a week from tomorrow, that’s July 23rd. This is a weekly chart, this stock to me certainly looks like it has a $500.00 number on it’s back. We look at the daily chart and you can see this breakout from their “Prime” Wednesday, go buy stuff on Amazon ( NASDAQ:AMZN ), you get big deals today, if you’re a “Prime” member,
I haven’t even been on the website and the reason is I’m not their guy; I’m already a “Prime” member. I always look for stuff because then I get free shipping and I don’t have some guy driving a brown van knocking on my door. The bottom line is, the stock was rallying in anticipation of this, it’s like a big deal. I’ve talked about it in the “Chart of the Day” and some of you guys have made really good money on it.
I think you’re still okay. It’s was down a bit today, kind of like buy the rumor sell the news; buy the anticipation, sell the event. But the real event is on July 23rd, earnings. Now, unless I’ve missed something I don’t think they’ve ever actually made money. They just generated gazillions of dollars like “Bernankeillions” of dollars in revenue, but they haven’t ever really earned any money. Who knows, maybe this could be the quarter.
What I do know is this; the stock has been trending up on a weekly chart. This is a stock that you don’t want to be against, I wouldn’t be betting against it now. If you’re an investor you want to hold this stock for a while I would look to buy any dip. If you’re a trader then you wait for the stock to come up to a new high above here of 469.60, if you are a trader. I personally would hope the stock will pullback then I can take some and put it in a longer-term portfolio.
Now Intel ( NASDAQ:INTC ), the company beat estimates by 10 percent, not a big deal. The analysts were expecting flat revenue; instead they got a 1 percent drop in the companies guidance. So the bottom line is, Intel ( NASDAQ:INTC ) beat the numbers but they’re guiding lower. That’s really what’ happening, they’re guiding lower. I would not be buying this stock tomorrow, there’s just way too much resistance on this; I just don’t think you want to go there. So don’t be looking to buy this stock.
I would rather wait for the first down day, or the first day where the close is higher than the open. But respect this downtrend until it doesn’t deserve any more respect, and then look to short the stock. I mean it! It’s been trending lower, semi conductors ( NYSEARCA:SMH ) have been hurting. So with Intel ( NASDAQ:INTC ) the real trade is to wait for the stock to finish rallying. Wait for it to start getting stuck in all this supply from these folks here that wish they hadn’t bought, and then actually shorted.
Or if you’re not a short seller and most people aren’t; if you’re long Intel ( NASDAQ:INTC ) then look to be selling it, take you’re profits. Or be happy you don’t have quite so many losses when the stock moves into strength and up into congestion. I hope this helps on Intel ( NASDAQ:INTC ) and Amazon ( NASDAQ:AMZN ). Intel ( NASDAQ:INTC ), stay away from. Amazon ( NASDAQ:AMZN ), longer-term. Ultimately they’re going to make money. What’s not to like about that?
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