Open Up And Say AAAAA

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We’re getting to the high point of the earnings season, and of course all eyes were on Apple after the close. It did not disappoint, as shown below. During the regular market session, before the report, I tweeted out an image from the Earnings Reaction page here on Slope, showing that the average pop is 1.82%. AAPL’s gain of about 2% as I’m typing this, therefore, is typical.


I had no position in AAPL, but one of my 45 shorts is with AMD, so I was pleased to see it take a tumble after they did their own earnings report.


What’s especially interesting to me is the gap between Friday’s close and Sunday’s open. The evening trading hasn’t commenced as I am typing this, but at the immediate moment, we have a perfect (and I mean perfect) gap-fill on the NASDAQ, as shown with the NQ contract.


Again, I’m relieved I lightened up some during Monday’s exciting morning plunge. Wednesday’s action will be very intriguing, not only to see how the market digests AAPL, but also to see what happens with the FOMC and Jerry Baby.