Jeff Bezos filed to sell $4 billion in Amazon shares right after the stock hit an all-time high. What incredible timing. What prescience. What a stunning coincidence that the guy who built the company might know when to cash out.
The filing came Monday. Amazon had just climbed to a record after blowing past earnings expectations. Bezos watched the chart go vertical and thought, you know what, maybe I'll liquidate a position roughly equal to the GDP of Mongolia.
Shares fell immediately. Retail traders who bought at the top are now refreshing their brokerage apps wondering why the line went down after the founder dumped four billion dollars on their heads. They're scanning CNBC for answers. They're checking if Mercury is in retrograde. They're blaming algos.
Here's the thing about technical analysis: none of this matters. Bezos selling doesn't change the chart. The chart was going to do what it was going to do anyway. Support at 180. Resistance at 195. A billionaire liquidating enough stock to buy a medium-sized country is just noise.
But let's pretend it matters for a second. Let's pretend insider selling is a signal. What's the signal here? That a guy worth $200 billion wanted some walking-around money? That he needed to diversify into his third superyacht?
The beautiful part is watching everyone act surprised. Bezos has been selling Amazon stock for years. He files. The stock dips. Retail panics. The stock recovers. He files again. It's a cycle more predictable than the tides, except the tides don't f*ck over day traders with Robinhood accounts.
You bought at the all-time high because you read that earnings were good. Bezos sold at the all-time high because he looked at the price. One of you understands how this works.
Photo by Marques Thomas on Unsplash
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