To The Moon

$Amazon.com(AMZN)$

since everyone was on this train last week in anticipation for the 200 breakout, I assume many people were let down when we dropped back down to 194, any short dated call premiums were likely burnt. the 200 level will act as a magnet for the stock price in the near future. also you cant expect bezos selling plan to be the only entity at work to keep $AMZN under 200, there is definitely some bigger market participants at play. keep in mind this is a massive psychological level and likely aligns with some smart money price targets, its normal that we would likely see profit taking at 200.

I believe calls are still a strong play here. we are looking at two catalysts to send this higher. the first is a corporate tax rate cut. as the markets start to price in the higher chance of his re election (as we have already started to notice with bitcoin) corporate tax rate cuts will be another HUGE thing the market will start working to price in. If he cuts corporate taxes by 2%, (which is his plan) this should give $AMZN an additional 5-7% of realized earnings which would instantly give the stock price a bump higher. the second catalyst is prime day, although the actual earnings from prime day will be insignificant to move the stock price, the additional hype may act as another catalyst to send this higher.

In my opinion we are possibly looking at 214+ by the end of the month, which is not at all unrealistic, given what we have seen from other names.