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Let me start by saying Amazon is one of the most, if not the most, well-run organizations I've ever known. We have done tens of thousands of dollars in business with them, and I can't think of a single unsatisfactory experience, even though there have been hundreds of opportunities. (This is in sharp contrast to, which I tried once, and I had a totally unsatisfactory experience, and therefore I shall never darken their doorstep again).

Anyway, AMZN broke a long-term support line last week.



Looking closer, you can see the damage was done on Friday. Given AMZN's huge run-up, the drop from its lifetime high looks like barely a blip, but the fact is that the stock is down 20% already, and it sure looks awfully vulnerable at these levels. I don't have a postion, but if it retraced to that trendline, it looks like a very high probability trade.