Amazon dot bomb is an old phrase that was popular during the Internet bubble days. Many bears went broke shorting AMZN and other Internet darlings. Today, AMZN is 20% lower on poor earnings and guidance. I did not have the nerve nor the desire to try and trade AMZN today. Fast markets are not the best place for position traders. It is often easier and better to let the dust settle and see where support and resistance is established after a big volume news day. Day traders tend to want to move to the next hot stock and that is often where position traders step up to the plate to provide liquidity.
Today's dollar losers list features other household names such as Boeing, Panera Bread (the old Au Bon Pain), Black and Decker, Norfolk Southern. General Motors and Diamond Offshore are some of the gainers moving on earnings.
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