Mr. Bezos needed to raise cash to buy more materials for his next rocket. Shorts here have been financing his pet project for decades.
Has it ever occurred to you that the so called trading seminars could be operated by Wall Street's big boys to "teach" you to place stop orders right after placing your bets?
I may miss many opportunities, but the success rate is considerably higher.
As of now (12:34 p.m. ET), AMZN is "High" (relative to its daily low so far).
I'll wait for a more significant dip to buy calls again.
Shorts are doing it themselves.
They anticipate a big drop, so they short, resulting in the accelerating decline. As soon as they're done shorting, they place a stop order to protect their bets. MMs execute them.
I've been saying that you shouldn't place stops. It's like showing your hands in the game of poker.
I've been looking at four stocks: AMZN, NFLX, FB, and AAPL.
They all bounced together.
All but AMZN have faltered since then.
AMZN has a potential to keep creeping up the rest of the day . . . to maybe $528 and change.
Good luck to all.
(I'm back to all cash after making a good profit on AMZN calls on the first leg up of the bounce.)
Good luck to all.
The final 40 minutes should provide some drama.
As of now, nothing interesting seems to be happening.
Like I am.
It's so silly to make bets based on what you think today's employment numbers may be:
1. These numbers are meaningless. The government can fudge them any way they like.
2. We don't know how the market will react to the numbers. May explode to the upside (like up 240 in the DOW), may plunge (like down 160 in the DOW, right at the open), or remain flat (like plus/minus less than 33.33 in the DOW).
So, your prediction for the numbers themselves can have 1/2 chance of being correct. Then your prediction for how the market will react to the numbers can have 1/2 chance of being correct. So, your resultant chance is 1/4 being right.
If this is not bad enough, as we all know the whole market is rigged (the government is part of this racket), we have no idea how the manipulators will move the market today.
One thing is about 90% certain:
If you're holding a losing position thinking today's numbers will help you, your position will get worse no matter how good/bad the numbers are.
You know why, right?