Another factor is hitting the markets -- the Fed's need to inject >$50B into the overnight
trading flows as interest rates spiked the last 2 nights. This is the first 'crack' in the
markets, with some (I repeat 'some') saying that the risk in the market has risen. This
has lead me to look at calling a top earlier than expected in AMZN, whose P/E is of
course higher than most and would be one of the first to experience a declining economy.
LT2A: Sold (5) AMZN 1830/1832.50 call spreads for +.75 (+3.75)
at 11:12am when AMZN = $1813.
Thesis: 1805=1830. Premium taken in so far (.84 + .75) is sufficient to move either side
if needed and still protect a profit.