Amazon (NasdaqNM: AMZN) hit a new 52-Week high of $115.84 so far today. Currently the stock is up $22.21 (23.77%) to $115.66 on 27,419,758 shares traded. Today's high is up $80.98 from a 52-Week Low of $34.68 set back in November. Amazon stock has been showing support around $90.68 and resistance in the $95.48 range. Technical indicators for the stock are bearish and S&P gives AMZN a negative 2 STARS (out of 5) sell ranking. The stock is soaring today, trading up over 23% today after the company smashed analyst estimates last night. After the market close the company reported it had third quarter earnings of 45 cents per share, which was 12 cents above what analysts had been expecting to see. If you are looking for a hedged play on AMZN the stock seems like it could be a candidate for a January out-of-the-money bull-put credit spread below the 80 range.

 I wonder how many people bought AMZN at the open today?

the market sold on the news today, and AMZN started with something like a 20+ point gap up with the majority of the volume at the first 30 minutes

Amazon is online store but 3 qrt number great

tylert:

Amazon is online store but 3 qrt number great

An online store with good prices and the customers are not taxed in most instances. Hard to beat that combination! I haven't bought something from Best Buy in ages. I still shop at Fry's though from time to time, but many times the deals are on Amazon. The public has voted with it's dollars that Amazon is a terrific store to buy things from.

The government is trying to impose internet tax laws especially aiming big online stores such as amazon.  What would happen to amazon stock if the law passes?

JAZMINE73:

The government is trying to impose internet tax laws especially aiming big online stores such as amazon.  What would happen to amazon stock if the law passes?

I have very little doubt that the stock would take a hit. By taxing Amazon, the price online and the price in store will become a little bit closer on expensive items like cameras, tvs, etc. (mostly electronics). On the smaller items, the question will be if people want to wait. 

I suspect that if Amazon is taxed, people will just buy from another source that is tax free. If all online stores are taxed, I don't know what will happen...

WSJ reports demand for Barnes & Noble's yet-to-be-released electronic-book reader is so strong that the retailer is telling customers that new pre-orders won't ship until Dec. 11. In October, the nation's largest bookstore chain told its first wave of customers for the $259 Nook that the wireless device would ship Nov. 30. A second wave of customers was told it would ship Dec. 7. Now new customers are being told that their pre-orders will ship Dec. 11. "Demand for the product in our stores and online has surpassed our expectations," said Mary Ellen Keating, a spokeswoman for Barnes & Noble. She declined to say how many Nooks have been pre-ordered since the retailer introduced the Nook on Oct. 20. Ms. Keating said initial pre-orders will be shipped on Nov. 30 as promised. However, there has been so much interest in the Nook that customers who preorder the $259 device now will have to wait a little longer to receive them. "We are working hard to meet demand for the holidays," she added.

 I belive its some kind of ebook reader but quite expensive imo

 I am watching AMZN for a doji, and then start scaling in shorts....that huge gap up from Oct 26th will be filled.

the only question is, does the gap get filled in 2009, or 2010

What is a doji