One of the strongest stocks in the NASDAQ 100 may have just signaled a correction is underway. Shares of Amazon (AMZN) surged in early trading, only to reverse the gains. The candlestick that formed was a topping tail, a bearish signal that usually spells trouble for a stock. Topping tails are only valid when they form at 52 week highs. On Amazon, it is at an all-time high, maybe even more of a bearish signal. Amazon jumped today on news they will broadcast Thursday NFL games for the pricetag of $50 million. Considering Twitter Inc (TWTR) paid just $10 million last year, some can argue Jeff Bezos is overpaying for the content as NFL ratings fall. Either way, investors would be wise to short the stock. Yes, I understand it seems scary because the stock has been one of the strongest in the market, but sometimes you need big b@lls to play with the big boys. I am short.



Stock chart bearish topping tail on shares of Amazon.com