Two Ways: Amazon's Kindle Goes Global
Strengthen your portfolio in good times and bad.
Amazon's vice president of Kindle Steve Kessel said, "For years we have shipped English-language books from its U.S. store to customers in countries around the world. Now, Amazon will be able to offer that same service with digital books." Amazon says it will begin shipping the international version in more than 100 countries beginning October 19. For more on retail, see Professor Jeff Macke's Retail – Don't Think, Trade.
From the Bull Pen: Amazon is a best of breed retailer and the stock is holding onto its 20 dma (currently 89.33). Short term sell stops can be set below that level. For those considering Jeff Macke's play, Gap (GPS), a short term sell stop can be set below $21.
From the Bear Cave: If you're looking for a downside play in retail, consider Kroger (KR). From a technical standpoint, gapfill near 21.80 could be an opportunity. A buy stop could be set above the 200 dma (currently 21.90).
A Quick Check Around the World
Asian trading closed with the Nikkei 1.11%, India -0.90%, Hang Seng 2.07%, Shanghai (Closed), and Taiwan 0.96%.
Across the pond, we see the FTSE -0.15%, CAC 0.07%, DAX -0.02%
As of 8:10 a.m. EST, S&P Futures are trading +1.25 to 1050.00 and Nasdaq futures are +2.250 to 1703.00.
A Look at Commodities
Over in commodities, crude oil is +0.11 to 70.99 while gold is +3.00 to 1043.00 this morning. Silver is +0.75 to 17.37 and copper -1.350 to 2.7710.
The dollar index is +0.1750 to 76.6700.
On the Radar
10:30 Crude Inventories
Click here for the full trading radar.
Happy Hump Day! Good luck!
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