For Old Time's Sake, Let's Make it a Blockbuster Night

Between AAPL, AMZN, GOOGL, V, AMGN, and others, tonight is a full slate of blockbuster earnings which could easily add even more whipsaws to the ones we saw in the tape during today's session. 

I remain hedged inside Market Chess Subscription Services, with a few index shorts balancing out the rather tedious intraday fades and whipping around I am seeing in a few of my equity long holdings. 

As I write this, I see the triple-digit Dow gains have reversed into red. While Mr. Bezos and Amazon may very well come to the bulls' aid tonight with a grand slam earnings report and call, the truth is that AMZN's steep rally the last few years has also priced in a decent chunk of good news. What that means is that the bar keeps getting higher for AMZN and they must continue to defy gravity.