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Signals Say Don’t Sweat The Amazon Stock Slide

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amazon stock slide

FAANG stock Amazon.com (AMZN) raised some eyebrows this morning after an SEC filing revealed CEO Jeff Bezos sold $2.8 billion worth of Amazon shares last week. AMZN has managed to shake off the news to test positive territory, trying to snap an eight-day losing streak. Despite the optics of such a sharp pullback, Amazon stock has now settled near two trendlines that could have bullish implications, if history is any guide.

More specifically, AMZN has pulled back to support at its 320-day moving average, after a lengthy stretch above it. There have been four similar pullbacks to this moving average in the last three years, after which the equity was higher 10 days later by 10.4%, on average, per data from Schaeffer’s Senior Quantitative Analyst Rocky White, with all four of the returns positive. Plus, more data from White shows that Amazon stock also just came within one standard deviation of its 200-day moving average after a lengthy stretch atop the trendline. According to this data, three similar pullbacks have been made by the security in the last three years. One month later, the stock was higher 67% of the time, averaging a modest 5% gain.

From AMZN’s current perch at $1,758.51, a 10% pop would put it just south of the $1,950 level, essentially erasing the damage from its current losing streak and reclaiming its 12-month breakeven point. And just above that is the shares’ Sept. 4 all-time high of $2,050.50. Plus, the security’s 14-day Relative Strength Index (RSI) of 25 sits firmly in oversold territory, further fueling speculation that a rally is imminent.

The options pits have been a bit more pessimistic lately. While call volume has been heavier on an absolute basis during the last 10 days on the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX), the stock’s 10-day put/call volume ratio of 0.91 sits in the 87th percentile of its annual range. This means AMZN puts were purchased over calls at a much quicker clip than usual the last two weeks. Plus, its 30-day IV skew of 17.8% registers in the 95th percentile of its 12-month range, suggesting puts are more pricey than their call counterparts, from a volatility perspective.

Source: https://www.forbes.com/sites/greatspeculations/2019/08/06/signals-say-dont-sweat-the-amazon-stock-slide/#205f15904fe1

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9-year-old genius to graduate university

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Laurent Simons

(CNN) – A child prodigy from Belgium is on course to gain a bachelor’s degree at the tender age of 9.

Laurent Simons is studying electrical engineering at the Eindhoven University of Technology (TUE) — a tough course even for students of an average graduate age.

Described by staff as “simply extraordinary,” Laurent is on course to finish his degree in December.

He then plans to embark on a PhD program in electrical engineering while also studying for a medicine degree, his father told CNN.

His parents, Lydia and Alexander Simons, said they thought Laurent’s grandparents were exaggerating when they said he had a gift, but his teachers soon concurred.

“They noticed something very special about Laurent,” said Lydia.

Laurent was given test after test as teachers tried to work out the extent of his talents. “They told us he is like a sponge,” said Alexander.

While Laurent comes from a family of doctors, his parents have so far not received any explanation as to why their child prodigy is capable of learning so quickly.

But Lydia has her own theory.

“I ate a lot of fish during the pregnancy,” she joked.

The TUE has allowed Laurent to complete his course faster than other students.

“That is not unusual,” said Sjoerd Hulshof, education director of the TUE bachelor’s degree in electrical engineering, in a statement.

“Special students that have good reasons for doing so can arrange an adjusted schedule. In much the same way we help students who participate in top sport.”

Hulshof said Laurent is “simply extraordinary” and praised the youngster.

“Laurent is the fastest student we have ever had here,” he said. “Not only is he hyper intelligent but also a very sympathetic boy.”

Laurent told CNN his favorite subject is electrical engineering and he’s also “going to study a bit of medicine.”

His progress has not gone unnoticed and he is already being sought out by prestigious universities around the world, although Laurent’s family wouldn’t be drawn on naming which of them he is considering for his PhD.

“The absorption of information is no problem for Laurent,” said his father.

“I think the focus will be on research and applying the knowledge to discover new things.”

While Laurent is evidently able to learn faster than most, his parents are being careful to let him enjoy himself too.

“We don’t want him to get too serious. He does whatever he likes,” said Alexander. “We need to find a balance between being a child and his talents.”

Laurent said he enjoys playing with his dog Sammy and playing on his phone, like many young people.

However, unlike most 9-year-olds, he has already worked out what he wants to do with his life: develop artificial organs.

In the meantime, Laurent has to finish his bachelor’s degree and choose which academic institution will play host to the next stage in his remarkable journey.

Before that, he plans on taking a vacation to Japan for an undoubtedly well-deserved break.

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New award to honor arts and activism named after Lena Horne

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Lena Horne

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Gang members slam BMW into rival and his 8-year-old son in Harlem

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Gang members slam BMW into rival and his 8-year-old son in Harlem

Two gangbangers aimed their BMW like a missile at a father and his 8-year-old son on a Harlem sidewalk in a horrifying incident captured by video distributed by police Thursday.

The BMW — driven by a man police believe is a member of the Gorilla Stone Bloods Gang — was zeroed in on the father, a rival gang member, said cops.

Around 3:45 p.m. Nov. 6, the boy and his father were walking on W. 112th St. by Adam Clayton Powell Jr. Blvd. when the BMW jumped the sidewalk and slammed into them both, said cops.

Father and son were both knocked through a gate.

The BMW driver then backed up — and its driver and passenger, also believed to be a gang member, jumped out of the car and ran toward the father and the son.

One of the attackers slashed the father, identified by sources as 32-year-old Brian McIntosh, who’s served prison time for robbery and bail jumping.

McIntosh and his son went to Harlem Hospital. Miraculously, the boy escaped serious harm.

McIntosh was so adamant about refusing to help police catch his attackers that the young boy’s mother had to file a police report alleging he was the victim of a crime, police sources said.

Cops released video of the attack, and ask anyone with information about the suspects to call Crime Stoppers at (800) 577-TIPS.

Source nydailynews.com/

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