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As we approach this afternoon’s big earnings event, here is more Slope-created information about Amazon.
Here is the price reaction leading up to, and following, all their earnings in the past. As the thick black line indicates, on average the stock tends to soften following earnings.
Perhaps the most important earnings report of this entire week is from Amazon (AMZN, duh) which Ms. Sanchez has kindly agreed to illustrate in the form of a daily price chart. Please take careful note of the price level 114.49, which is a price gap that has served as a ceiling for many, many months. If we can stay below this level, that would be, shall we say, a good thing. I have NO position in this beast, but I will be watching after-hours action with great eagerness.
Gosh. 2.6 whole percentage points. Now I can see why everyone is falling all over themselves for just a taste of this action! Over the past half-year, the stock is up 200%.
Ever since yesterday afternoon, when META’s earnings came out and sent the stock blasting higher, I have been ruminating on a couple of big errors I made yesterday and how I got there. I’d like to talk about those, and we’ll begin with this chart of the /NQ, which shows, by way of 1-minute bars, the activity on the /NQ over the past twenty-four hours or so:
