April 25, 2018 | Enjoy AMZN Short Squeeze While It Lasts

A slew of economic reports are due out on Thursday — a string of small firecrackers that is unlikely to have much effect on the markets. First up will be durable goods orders, followed by jobless claims, retail inventories and money supply. At one time or another, Wall Street has obsessed over each; these days, none seems capable of producing even a hiccup in the broad averages. Overshadowing them all will be the release after the close of Q1 earnings for Amazon. The mere anticipation of this is driving the stock higher in after-hours trading. What a racket! It would seem that the same guys who pounded the stock all week are having second thoughts. Did the 153-point plunge they caused overdo it? Probably not, but that hasn’t mitigated the flurry of short-covering responsible for tonight’s so-far 27-point climb.
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Rick Ackerman April 25th, 2018
Posted In: Rick's Picks