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Apple Ramp "At All Costs" Results In Another Complete Correlation Failure Day
Today's attempt to ramp Apple into the green no matter what (and with 20% of the NASDAQ, and thousands of ETFs creating a massive feedback loop, bidding up Apple generates the biggest bang for the buck), which, if unsuccessful, will see dozens if not more funds scream at EOD once the margin calls start rolling in (yes, many are "all in"), has resulted in yet another complete collapse in all correlations. Note the simply ridiculous divergence between the AUDJPY and the ES. This is all on account of the glaring ramp undertaken by virtually everyone whose livelihood depends on the aforementioned AAPL green close. We would argue that a long AUDJPY, short ES trade makes sense, but with the market as broken as it is, only idiots would hope for anything to make sense any more.
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Hmmm...
by Turd Ferguson
on Mon, 10/18/2010 - 15:43
#659201
This is quite simple, really.
1) French "unrest" leads to Euro selloff and $ strength for the next two weeks or so.
2) Dollar "recovers" back up to 79 or so USDX. Gold and other commodities go down.
3) Stock "market" doesn't drop, however, as Fed/POMO/PD alliance keeps it up through daily purchases of AAPL.
4) Fed now free to announce QE2, as scheduled, on 11/3.
I shorted AAPL at $302 last night.
I'm getting sodomized on that position today.
But at least I'm not taking the same amount of pain as the overleveraged, F12-punching gold stock holders....
Don't you mean "f5 punching"?
+1
I wish we could expand avatars for clearer viewing.
Are these terminals VAX based or what? Do you have the luxury of command line editing? And I thought my company was archaic for moving away from VAX in 1998 ...
I found this interesting/helpful:
http://www.minyanville.com/businessmarkets/articles/mining-stocks-silver...
Thanks turd.
I like to follow todd h. & kevin depew from that site.
Wonderful. I need many more ASEs, and the dummies are driving up the price.
I sold a few apple shares last night. Im still well vested in Appl. Ive been holding a long position in Appl since the Share price was $199. Its always good to take some profit.
Didn't you read the memo? No-one ever loses money on the internet. And everyone's a millionaire, which explains why they're busy posting on ZH and not living it up on their yacht in the Med, full of Russian whores.
...or living it up on the yacht of a Russian whore full of meds.
Owning a sailboat is a bitch. Better to have the bitch own it.
Robo you have to be one of the dumbest mother fuckers, gold bugs do not buy gold ETF's or do it on leverage. The gold price does not affect my liquidity as it is my savings. The last time I bought gold was at 1100.
All you have done over the last few months is turned into another bad Johnybravo troll.
Agreed.
I'm not usually defending Robo, but your statement is nonsense. Plenty of gold longs are mo-mo players, just as levered up as AAPL mo-mo longs. You think all the hedge funds who have jumped on the gold bandwagon are buying with unlevered cash? You think they plan to ride it into the basement on principle?
Joe Goldbug may not be levered, but a lot of marginal length is.
This is my point, robo is addressing the gold bug crowd, you really think he is addressing the mo-mo traders pumping ETFs? How many gold bugs or fellow posters have you seen talking about buying the GLD?
Joe Goldbug is completely unfazed by this.
Joe Goldbug is waiting for the paperbug correction in levered paper gold to buy more.
Joe Goldbug knows what the endgame is.
Joe Goldbug is secure in his third person self-referential style.
F12-punching gold stock holders.... Where did he say goldbug?
Ok, I admit looking now it doesn't, however if you have read Robo for as long as I have you will see robo make references to Eric King, Jim Sinclair etc. Robo hates gold and gold bugs, and as I said you wont find anything but gold bugs here, so why knock gold on every down day like a troll? I don't knock individual stocks or bonds when their having a bad day, nor do I tout gold when its shooting up, that kind of shit I find petty.
I'm just tired of seeing Robo's comments be nothing more than cheeky remarks mixed with chart porn.
Net income up 70% y-o-y, not the greatest short idea. iPhone sales at 14.1M. Not even Reggie is willing to short Apple. Here's an idea, short a company that doesn't make a shit ton of cash, or that dabbles in fraud, there are plenty of those.
Still love the photos Robo.
I'm curious how you would know if Apple, or any other To Big To Fail Company for that matter, is not cooking the books or engaged in any other fraud?
http://www.businessweek.com/bwdaily/dnflash/may2006/nf20060523_2210.htm?campaign_id=rss_daily
Intelligence Czar Can Waive SEC Rules
Now, the White House's top spymaster can cite national security to exempt businesses from reporting requirements.
President George W. Bush has bestowed on his intelligence czar, John Negroponte, broad authority, in the name of national security, to excuse publicly traded companies from their usual accounting and securities-disclosure obligations. Notice of the development came in a brief entry in the Federal Register, dated May 5, 2006, that was opaque to the untrained eye.
I don't, but I believe Tim Cook is an honest guy.
How do you know the world is going to be here tomorrow?? Do you think Apple is cooking its books?
CD, c'mon, show me some evidence that Apple has ever been dishonest with their accounting.
Why would you assume Apple is being honest? Why would you assume any company is being honest with their books? Why would it be necessary for the intelligence "czar" to allow any company to cook the books? Why? That's a simple question. And this was enacted back in May of 2006, well before the shit hit the fan. So how would we know who has or hasn't been cooking the books when it's all a national security issue?
Personally I believe it's more realistic to assume fraud at this point than to assume honesty. When someone is coming out of a pool of shit the burden of proof is on them to prove to me they're clean. The entire world has gone insane. I would be the fool to assume the person in front of me is sane.
+10
Why would you assume any company is being honest with their books?
With no accountability what is the incentive to be honest? Just negotiate a fine and its done.
you shorted AAPL ? when it make more than $20/share/year ?
AAPL will move from weak hands to strong just like Gold. If dollar fails,
AAPL will be worth good since there is a good export market.
crazy fundamentalists!
short term trading and longer term investing are two different things....the latter is very risky in this market
Taking bets AAPL closes UNCH.
Mob rule, bitchez!
green for sure, almost there now
Tripled up my shorts at 312. Apple is not trading in a free market in any sense of the word:
http://i298.photobucket.com/albums/mm246/johnlf/Apple-Computers2.jpg
http://i298.photobucket.com/albums/mm246/johnlf/Apple-Computers.jpg
Apropos gold: How is the gold correction a surprise to anybody who follows technicals? I'm a gold bug like most people here but there's an awful lot of fundamentals vs. TA bullshit in the gold threads and yet SOMEHOW those darned candlesticks are still quite honest.
Dow close below 11000 bitchez.
Never sell the hole.
Market is completely "broke dick"
Thanks for all the fish!
POMO tomorrow right? Anyone have the rest of the upcoming schedule?
10/20, 10/22, 10/26, 10/28, 11/1, 11/4 & 11/8
Much appreciated TF
An image just flashed in my mind of a scene in Alice in Wonderland, where we have Ben Bernanke as the Mad Hatter, celebrating everyone's unbirthday with POMO.
*Sigh*
http://www.newyorkfed.org/markets/tot_operation_schedule.html
PLEASE blow the fuses and flash crash! Come on robots, dont you want to go look at some roboporn or somethin instead of bidding on these boring stocks all day?
All roboporn feeds terminate at the SEC. Usage is so heavy, no outside lines available.
Correct me if I am wrong but I am showing a bar for JPM going to .01
Did JPM just flash crash?
Could be, finance sites didn't catch it.. yet.
Day's Range:37.71 - 38.50
I'm showing it at 6:35 AM PST
Bigger Dickus - Is that avatar you, your girlfriend or a JPEG you pulled off a porn site? Just curious, smoking hot model, giving the dickus the effect.
it's the market's job to chase the cat up the crAAPL tree, it's firemen ben's job to make sure the cat stays up there.
if CRaapl stops being a growth story courtesy of the momo players then jobs might have to pay out some divis or something. Can't have that.
buy the gold dips. the train is starting to fill up and planning on leaving the station soon.
VMW not so lucky...pounded
Looks like its getting round-tripped today.
The CANSLIM crowd is going to be all over this one today....
Goldman predicted $1,650 gold?
No wonder they are making a fortune.
They fleeced their biggest clients once again.
Any wonder why this stock is breaking out to 5-mo. highs?
Gold falls nearly every day, and it always recovers. No reason to think today will be any different.
Swiss stair, bitches.
Too much money looking for too few 'good' investment opportunities? Money has been put into AAPL and GOOG because, well, everything else looks like a turd?
Many analysts raised their price targets on AAPL this morning to keep the pump in full gear.
One analyst downgraded the stock but upped his target price.
Steve Jobs could shit daily, package it and send it out to analysts as iPoop and they'd raise guidance.
The story in AAPL unfolding, for those who can read between the desperation lines of Jobs ranting, will happen in a Q or two when they realize margins will continue to compress and the iPad failure was not related to supply constraints.
The beat goes on. Also, watch for some selling tomorrow after another Apple iEvent.
When google reports how fast android is gaining steam worldwide &
When ipad clones hit the stores &
We can all agree the credit/debt/securitization bubble has popped. Easy credit is no longer easy, they are reeling in credit at every level. The E.U. is in austerity mode, the usa has a new normal, and the hot money can leave the emerging markets very quickly, exposing bubbles for all to see ... Apple has a bleek future trying to sell high priced items so people can look hip when they can get the same product at half the cost.
This video robo posted yesterday speaks to this easy credit is gone .... and with it sales.
http://www.youtube.com/watch?v=8pr7faI6yBY&feature=player_embedded
Jobs sounded like a spoiled brat trying to tell everybody why his new toy was way better than everyone else's.
This is simple. iPad didn't sell because of supply problems, it's a pretty useless discretionary item that is redundant in several of their other products. He's diffused the situation for now but we're seeing margins compress and will come in more as iPad eats away at them.
Ipad may be a bust at that price. You cant drive programs adobe, printing ect ...
Its a web serfing tool for $600 plus the monthly fee's to drive it ...
Don't laugh, some famous artist did exactly that, and some collectors with currency to burn paid around $25,000 per can. Some cans exploded and caused the price to increase, since there were fewer of them! I sh!t you not! :>D
More like Financials ramp at all costs...
must not show any weakness! Everything is fine. Your tax dollars at work.
Not sure if you caught it, but CNBC just pumped the rotation into banks. From the floor, his words were, "I would KEEP buying [banks]."
On days like this, I actually feel like I am living The Truman Show. Where is the camera 'cause this financial news coverage simply cannot be real.
This was a gap fill and I took the trade. I'd rather see a gap filled and then sell off then a gap down with no fill which would give reason for a crazy ramp down the road. I think the market is hurt however. The ES violated it's major supporting trendline over night and appears to be acting as resistance now. Maybe the Banana Boys are planning an unannounced goose to get it back above but I would be surprised by that at this point...
I will by an apple product when they come out with iGold.
Yeah but iGold would sell for the spot price of gold X 2.5
And it still won't be physical just digital.
It was ramped so much in the previous 2 days. No way it maintains that wood.
If AAPL falls below $300, Bernanke will POMO an order for 1M iPads and 2M iPhones.
rage against the machines.....
If Apple would support flash, every SEC employee would buy one.
AUDJPY is headed lower. If the close holds below 79.700, you'll see a breakdown back to 75
Earnest Question:
If the dollar has devalued 13% during September, isn't that going to squeeze Apple's (and everybody else who imports) margins in Q4?
Sausagemaker
omg, this is gettin ridiculous. Doji #5 coming today???
Some dispersion/de-correlation of sectors keeping things alive???
I deserve to be junked.
Every MSM channel has been pumping Apple like cheap whores because it is the easiest game in town. All one needs to know is that without the constant media attention, that has been completely overdone since the "great recession" started, Apple would be just like any other company...except for the iZombies.
measured from the last JPY intervention, the SP 500 gained ~70 points on the AUD/JPY in equivalent value with todays ramp.
Today marks an important turing point for global markets and the USD strength I warned about has arrived.
http://stockmarket618.wordpress.com
I'd look into BRLUSD as the reason for the AUDUSD x ES divergence.
Apple vs. HTC Evo:
http://www.youtube.com/user/xtranormal#p/a/f/0/FL7yD-0pqZg
I'll never understand this ZH argument that when asset classes correlate, it's bad--I get that part--and when they don't, it's still bad.
"Note the simply ridiculous divergence between the AUDJPY and the ES"
Before, it was ridiculous that they tracked. Now it's a "ridiculous divergence". Huh.
aapl - - -
dunno, on the daily chart I'm looking at a dragonfly doji outside the top Bollinger band, an RSI of +70 and declining and a downward crossover on the slow stochastic.
not a typically bullish setup.
Thanks for taking the time to discuss this, I feel strongly about it and love learning more on this topic.
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