$Amazon.com(AMZN)$
The only pewpie thing is that you can't really play it as an outsider via options because the MM's have the premiums so egregiously expensive it makes the gamble not really worth it unfortunately. Here's what I'm talking about:
The 'sentiment' surrounding Amazon's earnings is very bullish.
For many many weeks leading up to today's earnings announcement the expectations have been 100% bullishly lopsided.
The market was bullish for months but in the last 2 weeks has been very weak across the board, signaling that a correction is now in play vs the continuation of the bull market that obviously got too extended & thus tired.
Amazon is close to it's all time highs after running up over $100 from it's lows just over a year ago.
Inflation isn't easing, the economy isn't improving like was predicted over a year ago.
Thus: When you have these ingredients headed into earnings 90%+ of the time the stock will sell off post news not rally as was "EXPECTED".
$140s otw not $200s. $200s will happen down the road but not now imo, a sell off will happen before another bull rally over $200, that's this fall or next winter if all is well then but May 2024 is sell off time for Amazon and the market imho.
Thanks.
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