looking at watch gag

imdb says that one of Chevy's signature gags is looking at his wrist as if he had a watch on but without a watch on.

When Nick comes back to his apartment the night of the accident and sits down in a chair, with his voice-over saying "...but what if it didn't? What if I evaporated into nothing?" he looks at his watch, which he of course can't read because its invisible too.

Could this be a reference to that?
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