Well, that pretty much wraps the good part of the earnings season. On the one hand, reporting immediately after the close was Amazon (AMZN) which has vaulted about 7% higher.
On the other hand, we have Apple, the largest company in the world, which has slipped by about 4% as I am typing these words. Four percent doesn’t sound like much, but just FYI it comes to about $200 billion in shareholder value.
I guess I should be grateful that they aren’t BOTH flying higher, but the sad fact is that, for now, the really fun part of the tumble appears to have ended precisely at yesterday’s close, as the VIX has collapsed from the 20s back into Epstein levels.
