A new milestone.
The US stocks are showing good gains a day after the Fed kept rates unchanged. The Dow is up triple digits. S&P and Nasdaq are up about 0.60%. The Nasdaq is trading a new highs.
Another milestone is that Amazon has cracked the $800 price level.
I closed my eyes, held my nose and bought some shares for my retirement account a while ago (well in October 2015 and Jan 2016). I liked the Amazons Web Service, and let's face it, it is very convenient to buy anything there, and in most cases have it in a day or two. Of course, Bezos loves to go after markets and control it. Amazon invests, invests and invests and investors buy the stock and wait and wait and wait for the payoff (as far as earnings - you kinda expect them to explode one day). Meanwhile, the price goes higher and higher and higher. Who needs earnings?
According to Yahoo Finance the P/E is approaching 200. Am I crazy? Should I stay or should I go?
PS looking at the chart, the 50 day MA has been a pretty good risk defining level for traders in the stock. Nice stuff....