After Tuesday's head-fake of a rebound, markets resumed selling on Wednesday. Opportunity or a trap? $VXX calls, $SPY puts, will all go up for those who bought them earlier. $VXX, iPath S&P 500 VIX Short Term Futures TM ETN / H1 $SPY, SPDR S&P 500 / H1 $AMD reported Q3 revenue that missed analyst consensus estimates. Revenue topped $1.65B. The weak spot? Computing and Graphics (revenue up just 12% Y/Y). As I complained (echoing what PC gamers said), AMD lacks a decent GPU. Nvidia is getting a free pass and selling a GTX 2080 that's not a step up from the 1080. No Vega 64 refresh = weak GPU sales. $MSFT crushed estimates. Again. Cloud revenue rose 24% to $8.6 billion. Incredible. Even that overpriced Surface grew 14% in the period. Still, Service Go is gaining traction. Biotech stocks sold off badly. Not surprising. When markets shun risk, they sell speculation. No biotech was spared. Watch $JNJ, $REGN, $CELG, $GILD, $BHC, $TEVA. Pick value. Beware of $AMZN, $GOOGL. $AAPL is a one-trick pony that's fine but the others have more risk now. If markets slow, ad spend will fall. $GOOGL will get hit. $MSFT now has a market cap BIGGER than $AMZN. Weed stock fell. The bubble is over. This is the second bubble after $GBTC - Crypto. And Crypto hurt $AMD's results. In the resource space, pick wisely. $FCX will face weaker demand due to China/US trade wars. $CLF failed to hold the post-ER rally. Financials are on sale. See $WFC, $C, $BAC. $BAC, Bank of America Corporation / H1 What are your moves? Do you have a big paper loss?Discuss and comment. Share your thoughts with 850+ Value Stock Members.