22 October 2009 – AMZN hits home run

ASX Commentary

22 October 2009 – AMZN hits home run

Fri, Oct 23, 2009

We had concerns last night about the non-confirmation by the Dow Jones Transports (refer Global Chart research) but the market shook that off for the session. It remains in place. The US market shrugged off some early bad news on the housing front and focused on the better than expected earnings by a wide diversity of firms. This seemed to underpin the theory that the recovery is broad based. In after market trade Amazon reported better than expected results and its shares have rallied 13.5% which will underpin trading into the end of the week.

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Nick Radge - who has written 899 posts on The Chartist.

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