Mid Week Update–Continue to Short AMZN
Nearly half of the Q2 earnings reports has been positive.
All the major indexes made multi-year highs last week, with AMZN hitting another 52-week high.
The economic news include a variety of other economic reports. The Q2 Employment Cost Index will be released on Tuesday followed by the Purchasing Managers Index (PMI), and the Consumer Confidence report. On Wednesday October Truck and Auto Sales, Construction Spending, ISM Index and the weekly Crude Inventories will be announced. September Factory Orders, the weekly unemployment claims, and the Q2 Productivity report will be announced Thursday. The Non Farm Payrolls, Unemployment Rate, Hourly Earnings, and Average Workweek will be announced before the market opens Friday to close out the week.
In summary, investors should continue to be focused on the corporate earnings reports and any signs of inflation. Sell when you see profit, short when it reach 100 pe ratio.

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