This little diagram I hacked together says it all:
For God’s sake, why couldn’t META have pulled that stunt on Wednesday night?!?!?
The complete shift can be seen anywhere you look. There are memes floating around WSB celebrating the explosive double-digit percentage move higher with AMZN……….
………as well as memes suggesting what took place later.
I was sitting in a parking lot when the news first hit. I saw AMZN (and ES and NQ) absolutely rocket higher instantly. Within two hours, 100% of the move was completely torched, and Amazon swung from an obscene profit to a laughable loss. Can you IMAGINE the looks of those who owned calls on AMZN when they saw this? Just after the earnings came out, they had Lamborghinis in their eyes. After the conference call, they were checking out bus fares. Just eye-popping stuff, and it pisses me off such a thing didn’t happen to our friend Zuck only twenty-four hours ago.
Naturally, the same “comet—>vomit” sea-change took place with the /NQ as well, since it was lapping at the heels of its AMZN master.
All I can hope is that this redness sticks because, let’s face it, if AMZN can sink following a shockingly bullish earnings report, then ANYTHING is possible.
