Tech Wreck In Effect – Option Strategy To Short AMZN

by | Feb 4, 2016 | Market Updates

We’ve been tracking the Fibonacci analysis of the QQQ for you and we pick up where we left off last week.  The correction looks to have ended inside our Fibonacci focus zone and the next move is likely lower.  We’re working shorts in AMZN with options and I’ll show you how we’re doing it.

7 Comments

  1. Mark Griffin
    Mark Griffin on February 4, 2016 at 9:48 am

    Thanks Todd where do you see the QQQ in 6/9 months. I have 100 ct on the 85 strike and wondering if I should hold for a bigger move lower. Thanks. I love your videos. Thanks for all the help you give to us small guys trying to hit the home run in the World Series. Mark from KC.

    • Todd Gordon
      Todd Gordon on February 4, 2016 at 10:01 am

      Hey Mark – thanks for the kind words. I’m happy they help. In this market, which is SO day-to-day, it’s tough to say where we’ll be in 6-9 months. My best guess is we’ll have another leg down over the next 1-2 months into 94.00 Fib support zone, which then setups a pretty healthy A-B-C correction back up that we’ll have to analyze at that time. Sorry I can’t be more specific, but like I said it’s day-to-day in here. -TG-

      • mark
        mark on February 4, 2016 at 1:21 pm

        thanks Todd sounds like a time to get out at 94 ish and wait for a bounce to reload I am also short some s&p futures too at the moment with stops above 1927.00 .looks like I need to spend more time on Elliot wave and do more learning .thanks a bunch

  2. Richard
    Richard on February 4, 2016 at 9:59 am

    Good job Todd, as usual

    • Todd Gordon
      Todd Gordon on February 4, 2016 at 10:06 am

      Thanks, Richard. Keeping head down and staying humble.

  3. Steve Frye
    Steve Frye on February 4, 2016 at 10:21 am

    Excellent explanation—-Thanks

  4. Michael
    Michael on February 4, 2016 at 2:52 pm

    Great Stuff Todd. Can you please do a quick review in one of the videos of why we do OTM Debit Spreads. Apologies, you probably covered it but I was away for a while.

    Cheers,

    Michael