You're thinking too much. Remember that this stock and the whole stock market are rigged 200% (on the upside and on the downside). The US government is in on this racket, too. The data they release are cooked, too, and they trade derivatives.
It's stupid to expect the market and AMZN to move rationally.
Nobody cares about this stock, except stupid shorts here, who are deeply stuck with their losing short positions. They are the only ones who are buying at this level.
This thing never made money, and their margins are horrible. They always get a hall pass however. How come?
Buyers do just finer if they are smart with entry and exit points, trading resistance and support, and not getting greedy.
Don't cream your jeans it was mostly shorts taking profits on a nice down day, if you shorted Fridays close you made good money even covering at today's close.
You described it exactly, lucky for me the ask was being maneuvered today at times not letting price rise others pushing out down. I covered my 380 puts not Friday at 377.50 figuring that options strike was being somehow played. Nice gain for a one day trade (Friday close to late afternoon today). Could go lower but I still have a couple march 375 puts, really had to sell the 380 weeklies you need know if you'll stay in the money long with them, and the decay is a killer just 4 days from expiry. Bird in the hand, I play mostly for singles not home runs as a general rule, I've learned weigh options its wise to play it safe and grab the money when its there shooting four the fences results in expiring worthless when greed reigns.
That said I think it goes much lower in the short term and those march 375's are going to be quite profitable and I can be more patient since its a month till expiration.
headwinds are in reality, but the share price is in a fairy tale...they could run this to $450 on nothing and then take it back down to current levels and call it a "selloff". Nasdaq jumps 30 points on nothing and no volume, but can't drop 10 on an even mild retracement. these markets are just simply not ready to give up...yet. I hope I am fully loaded for bear when it does happen...it will be glorious.
And with Q4 out of the way, the best quarter is behind them but no worries the cartel has already vastly slashed estimates going forward while raising price targets.
That old gag.