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[video] Quick Take: Amazon Delivers Holiday Jobs

Stocks in this article: AMZN

NEW YORK ( TheStreet) -- Although retail might seem like an area to avoid during the government shutdown, T3's Chief Strategic Officer Scott Redler told TheStreet's Debra Borchardt he has his eyes on Amazon (AMZN).

Amazon just hired 70,000 seasonal workers, and Redler argued it is good when a company is hiring because it shows that business is going well.

He said investors may be hesitant to buy a stock like Amazon with such a lofty PE ratio and valuation. However, those types of companies tend to have the right ingredients to be very successful in the market, and the stock eventually grows into the high valuation.

Technically speaking, Amazon is looking strong, Redler said. With the stock trading above its eight- and 21-day moving averages, a push above the $320 level could indicate another breakout for more gains.

So long as the stock can stay above the those moving averages, the trend is still intact, he said. Should the trend break, that's when investors start to figure out if the fundamental story has more meaning than the technicals.

-- Written by Bret Kenwell in Petoskey, Mich.

Bret Kenwell currently writes, blogs and also contributes to Robert Weinstein's Weekly Options Newsletter. Focuses on short-to-intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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