Mixed Bag of Tricks

By Tim Knight

After the absolutely unchecked pandemonium of Facebook over the past 24 hours, the world was on the edge of its seat with today’s featured presentation, which was the Amazon earnings report. After all the FB madness, AMZN turned out to be a relative bore. I mean, it’s UP and everything, but as I am typing this, it’s only 0.5% higher than its high yesterday. So – – not exactly setting the world on fire.

By the way, I just BET that there are at least a few folks out there who feasted on out-of-the-money AMZN weekly puts just on the chance that it would “pull a Facebook”. So that money’s all gone, because AMZN did pretty much what it’s supposed to do.

More dynamic is the other megacap reporting, which is Intel. Its performance isn’t quite so sanguine.

Long-term, INTC has a gorgeous bullish setup, but if Friday is a nasty down day, it’ll put the kibosh on a breakout.

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Gary

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