I said it last night. These wild, knee-jerk selling/buying of Amazon shares, is hilarious (and profitable) to watch IF you are a disciplined investor.
After-market and pre-market before Friday opening the stock was down over $85. But once the markets opened it settled at around down ~$50. BUT it had made roughly $45 on Thursday ahead of the results. As the chart above demonstrates AMZN is actually trading HIGHER than it was at 2pm on Wednesday — i.e., just 48 hours ago! So all of the last 24 hours, to long-term professional traders like I, was nothing but ‘froth’ — comes out ‘in the wash’. As I said last night it is great for option trading and I did, as is my incurable addiction, wrote two options on AMZN today. Could not resist.
Just trying to bring some sanity to bear, BUT it is OK. Somebody has to drive the stock. Enjoy.
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