After last week’s mess, the market put together a number of good days. But while the bulls have something to cheer about, the fact is the market is now moving sideways and nothing’s been resolved. I think we’ll go through a fairly choppy, sideways environment, but am hopeful everything gets resolved to the upside.
With the Internet sales tax being discussed, I thought it’d be interesting to compare an Internet giant with a brick-and-mortar beast.
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Amazon (NASDAQ:AMZN) had a rough Friday and that makes me think it may drop further. That said, a low risk/high reward play would be to buy at support and sell if it then drops below that.
Macy’s (NYSE:M) is really in the opposite camp. In fact, it’s up strongly this year and looks like it’ll move even higher.