Power Plays - Exiting AMZN, Adjusting U
July 10, 2023
By Scott Redler
Tech looks like it's getting hit with a sell program, extending the weakness we saw late Friday.
So I want to take two actions.
First, we are going to exit Amazon (AMZN) from Power Plays. I thought it would act better in the near-term but it's getting choppy and I'd rather step aside.
If you are looking to be long Amazon into earnings, I would go with options because the risk is the premium paid.
I'm also going to give Unity Software (U) a bit more room than previously. Now, I'm looking for it to hold the $34.50 to $38.50 area.
Stay tuned for more updates.
Scott Redler Positions Disclosure as of 2023-07-10 at 10.12.30 AM