$AMZN · Benzinga · 2026-10-30

Amazon getting hammered as AI spending concerns shake the market.

Um, Amazon Amazon was at 218. It actually came back up.

Stocks in focus for today are Amazon.com was 6.53% lower in pre-market trading on Friday after it reported thirdarter 2026 results after the closing bell on Thursday that missed estimates with earnings of $189 per share versus the $1.96 estimate and revenue of $21.94 billion versus the $22.31 billion estimate.

Ed said, "Amazon looking good.

Amazon down, Google that was just down big.

Amazon, I think, is going to be very tough to trade today. I think it's going to be back and forth like it was after hours.

I don't want to buy Amazon because even though it's kind of rallied off the lows, that's an earnings play. That's too hard.

And I I don't listen if you look in our package room because I I live in a a condo and um can I tell you once you get older and you have all the kids gone and you can pick wherever you want to live and you can just say to them, "Listen, I'm not going to have a room for you, but I am I'm going to live in this resorts and we'll put you up at the hotel next door.

No problem. You can come over and eat with me all you want." Right. It's It's been great. Downsizing for us has been the most marvelous thing ever. But there is the package room, but at any time of day you go in those package rooms, there's no less than 60 Amazon packages every single day in and out.

And they have And that's not even where they make all their money. They make their money on AWS and clinical and all this that other stuff. I really think, you know, I think they've done a great job holding holding the line.

So, I mean, I'm not going to bet against him at this juncture. Hopefully, their spend comes in a little because it was a little bit on the extraordinary side.

if we're not taking bets on Intel and we're not taking bets on Amazon and those are the things driving the cues right now, then the question is what do we do?

Um, where's Oh, I don't even have Amazon. That's crazy. I didn't look at it. Amazon. Wow. Amazon back up at 238. So, they're buying Amazon. Yeah. And you know, I I wouldn't imagine not betting on these guys.

First of all, this I'm going to tell you this stock has been an absolute register ring of wins selling the iron condor with 260 above and 200 below. I was doing a 300 above and 200 below and then I was able to pull it back in because it's just been running just printing money.

It's not a lot of money, but it's consistent and it's been absolutely beautiful. And I honestly I think it's going to be the same thing to watch this one run from uh dayto day.

Mhm. Over the next several months. Literally, take a look at this. This is uh since February. Look at how this thing's been landlocked. Now, when it finally breaks, the top is 273 and the bottom is like 200.

When it finally breaks, it is going to run like crazy because it literally has been sitting in a range for what are we looking at now? Um, nine months. Nine months sitting in the space.

So yeah, I think they're going to keep it rangebound and it's going to be just one of those guys that just hangs on.

I bought Amazon. Um, so I did two very small plays. I bought the 245 calls in Amazon for the day for for 38 cents just just in case it wanted to make a move to positive and those would probably quadruple um as like a small little play.

Yeah. So, these Amazon like listen, it's very hard to trade this and I don't want to lose a lot of money. Um, so like I I buy them for 38 cents and that's my risk. And so if this falls apart, I could lose 380 bucks and if and and it moves too fast to try to like, you know, trade the other way.

But if if it powers through its highs and gets into the 240s, I mean, this thing could go the other way. This could be like a 250 today. Yeah. Easily. Because it's an earnings play, so it's going to live in it world.

And then Yeah. Yeah, for sure. And so, you know, the big thing for me to watch, I want to see it says accumulation accelerating. So, they're still um accumulating. From that perspective, I just I just hate this line being in the negative structure.

So, as soon as it gets up there and it's positive, things will be great. And then my thought is that it could get to 24. It could get to 244. So that ought to be pretty interesting.

I do not buy breakout formations like that. I buy pullbacks with higher lows. Now, does that leave me in the dust all the time? Not all the time, but a lot of times. And so, yeah, that's that's really one of those things.

Sold some of the Amazon by the way uh that I bought for 38 cents for 53 cents.

that's why Amazon, that's why you always have to be careful that Amazon. Look at that. See, that was looking strong, but it's not moving with the market because it's in earnings. It's in its own world.