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Registered User
Joined: 3/5/2005
Posts: 9
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my rules for trading are:
1 - only buy those stocks reaching new highs on high volume
2 - sell any stock that has gone down by 8%
3 - keep your positions on any stock at less than 10%
i violated all of my own rules on amazon (love the company and the site)
i bought at $45
i have 600 shares
i am currently down about $6,000 - ouch!
i believe it will come back (and hope it doesn't get worse)
i have a stop loss order at $33
question is - should i get the money and use it now - or - hold for it to come up
thanks for reading - stay well - have success and enjoy it
bill boyd - retired in oxnard - california 
ps - this is my biggest mistake so far - i follow my rules at least 95% of the time and overall i am up (for the year about 5%)
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Registered User
Joined: 10/7/2004
Posts: 2,126
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Billboy, i like your buying rules, I have some similar in my portafolio of strategies. You must enforce your stop loss at 8% on this strategy or you can get really burned, as you just did. Well we all make mistakes.
I tell you what I see. The internet e-commerce group has experienced great deterioration in the last 3 months. Amzn has been in a downtrend since beginning of 2004. The projected P&F target is $22 before there is a reversal perhaps.
Short interest ratio has increased about 3,000,000 shrs from last month
All together there is little positive here to keep holding. My advice to you is to get out now and reinvest your capital in something more attractive. If the stock trend turns positive later and you still want to go back to it, that is fine.
For now all the odds are against you.
good luck
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Registered User
Joined: 3/5/2005
Posts: 9
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thank you for the instant response
i am very happy i signed up today
i was going to wait until i got more money but my intuition said do it right now
i am working up the courage to take the loss and move on
(even with the loss factored in i am up for the year about 6%)
if i were to use the money (about 20,000) for short term trading - i could make up and go beyond the losses
i have about 80% of my portfolio in long term rock of gibralter dividend stocks and i use about 20% to do the short term trading.
i freq cut my losses at 3-5% (rocket ships take off and keep going)
thanks again for your support
this is a great product - i have a lot to learn - i am new to investing (6 months) and ready to move forward 
be successful in your investing and enjoy your success in life 
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