Apple Slide Halts Yet Another Rumor-Driven Risk Rally

Tyler Durden's picture

Yesterday even as the broader market slid materially, much to the dismay of permabulls everywhere, taking out post QE3 lows, one stock that obstinately refused to join the trend was Apple, which as we have noted before is the vanguard of the index known as NASDAAPL, and whichever way the NASDAAPL goes, so go America's hedge funds, all of which have decided to piggyback on the stock in hope of catching up to the market performance and avoid being redeemed to death. Today, we get a mirror image of yesterday, when after opening at its highs, AAPL has since tumbled 2.5% from its highs, following news that an Apples court has allowed sales of Samsung Galaxy to continue. Finally, the broader market, which ramped early on hope that the intolerable Basel III requirements would be delayed by 1 year (they will be eventually as they demand that banks sell trillions in assets: something they can't do), is about to slide not only with AAPL as the catalyst but following news from Dow Jones that the "EU Trialogue Didn't Discuss Basel III Delay Thursday." In other words, we ramped on a completely bogus rumor originating in Europe once again. What else is new?

AAPL loses $10 billion in market cap in a few hours:

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malikai's picture

Pulled the S&P down with it. No worries here, saw it coming a mile away.

Richard Chesler's picture

STFP is the new BTFD.

Sell The Fucking Pop.


Grill Boss's picture

Can you see the lawsuits from this coming?  Insurers can... thats why NONE of them will cover these guys for this stuff, perhaps why Jobs denied the 'radiation App' and of course most likely why he is no longer here...

q99x2's picture

APPL has 30 years of successful

How do you feel about Apple? Apple Suck

Because that's what they do best.

CPL's picture

Ther entire core router infrastructure is going bonkers.


This is something other than a DDoS attack.  Google and Facebook are going up and down like a yo-yo.

HD's picture

That is interesting mate. Any idea as to what would cause that?

Bay of Pigs's picture

Ive been trying to get on ZH for the last 3 hours. Just got in right now.

Spastica Rex's picture

Hello, sir, this is Tina. Have you been restart your router?

old naughty's picture

I thought that was new new-normal as AlertUSA reported USG issued warning on Chinese routers?

CPL's picture

Forgot about that...HueWei routers are just reversed engineered Cisco gear though.  The company is so lazy it doesn't even bother to change the chassis design and slaps it's brand (practically) overtop where the Cisco sticker goes.


If they decided to shoot down the Chinese gear they would only cut their own throats if trying to spam using BGP.  it doesn't make any sense.

LawsofPhysics's picture

Skynet becoming self-aware or the NWO making sure that the internet can come down on their command?

Bay of Pigs's picture

Problems happening all over the place yet not a word anywhere in the MSM on it.


CPL's picture

I dont think it's TPTB, or the message boards wouldn't be full of Lan Admin screaming that their backups are mangled and their thin clients are dead, this is from all sectors.  From guys I know at DoD, DnD to HP/IBM/BigBox.  Everyone is on alert mode now.


This is going to take weeks to fix and figure out...too few hands and not enough time, Technicians motto.  The attempts can be made to knock it down but thank christ there are Network Engineers that are so paranoid they would question their own mothers.  So they lock it all down even if it's wanted and use their favorite phrase "Do you have a requirement?".  Configuration management on a network is brutal, it has to be perfect, not sort of right or kind of right.  It has to be OCD perfect.

CPL's picture

And it looks like a bunch of techs are quitting the industry because they've had enough of the bullshit over the last year and not being part of the RFC process.

Just peachy.   Like it wasn't hard enough finding resources that know how to do the job.


Can't say i don't agree with them though.  Any time this crap happens Engineering and IT turns into the office asshole because it wasn't fixed yesterday.


CPL's picture

Dunno, I would have to put on my tin foil hat.  My theory is something is out of it's cage.  There are times lurking around deep web I swear something is looking back and it's not human.   Last night it was the South America and Asia.  

This morning It's North America and Asia.  Either someone is moving a massive amount of information and vSphere farms (only thing big enough now)...or we've got another Sasser worm that is smarter than it's ancient variation that is "mapping" the internet and collecting.  Ontario router cored are a complete mess right now doing a sniff around, it's like OSPF was turned off, they've forgetten how to route.


On the client side you can have the stack detect a black hole and reroute around it, but then you leave yourself open to being part of the layer 3 infrastructure because you are acting as the gateway, both in and out.  I have a Windows 98 VM running right now to check things out because it's stack is as primative as I can make it.  It's a complete mess.  I'm using Manitoba right now to route to anywhere with manual route add's.  Slow as maple syrup in jan though.


Bay of Pigs's picture

This site came to a complete standstill. Nothing...

Ive talked to others all over the world. They had no access to ZH either. Why no story or an explanation as to what is going on?


EDIT: Chat is disabled too

CPL's picture

It might be an FB worm.  Those have been getting more and more vicious over the years and the phishers only have to have a "cat love" page to get people to install their crummy app and the session happens from that point.

CPL's picture

Maybe the Skype worm running around with a Morris variation and it's swamping the routers?


We know facebook chat is broken.

We know the routers across the planet except the southern hemisphere are effected. (checked speed are excellent)

We know that google is flaky.

And California is running at half speed right now.

Don't know enough about skype and if it uses Akamai or Google caching services because sometimes things hide in those appliances.


Somewhere on the global layer 2 and 3 lies the answer...


dynomutt's picture

Just because those core routers are not pingable doesn't mean that they're not active or overwhelmed and not passing data.  Perhaps their owners have disabled ICMP for some reason or another.  Also, the packet loss state for North America has not changed appreciably in the last 24h according to the graph.  Asia did have a slight spike in packet loss in the last couple of hours, though.

CPL's picture

They don't use ping.  They use SNMP to pull the OID to determine live with a MiB.  Never use ping to determine live.  Ever.  And by that I mean EVER.


These are core switches, not dlink walmart routers or Toy Nortel connectivity gear.  Those are the internet.  They don't exist, the path doesn't exist.

AlphaHunter001's picture


at this point, it would need to get above $680 otherwise a pullback to $575 is most likely

Lost Wages's picture

Time for everyone to leap off the Apple lily pad. Will Middleton finally have his day in the sun?

mtomato2's picture

Apples court



Cdad's picture

What is just as interesting as the deterioration of Apple shares is the hard selling of DOW issues.  These two things combined are giving you a clear look at a deteriorating market...NanoSecond Money opinions on The BlowHorn [CNBC] aside.

DeadFred's picture

Infighting among TPTB? The markets are highly vulnerable in the next couple days and we have an election that will likely hinge on where the S&P is in early November. Closing negative today takes the S&P below trend support and the Great Wall of Draghi would take every major index below the 50s. If I were an evil manipulator trying to rig an election (or just pissed off by the BLS rigging for the other side) I would put a lot of pressure on the key positions. It sure seems like that has been happening this week. Every unicorn fantasy meme is being rapidly faded.

slaughterer's picture

Bulls need help: Potter or Roomer?  That is the question.  

PUD's picture

Oh, whew! I thought we were up on the stunningly good jobs # sans one un-named large state reporting.

slaughterer's picture

It is as if every market participant just assumes all gov reports are lies.  Good news = meh

azzhatter's picture

Cramer is upping both his coke intake and his buy buy buy meme

SheepDog-One's picture

I like Apple products, but it is lame they try to block others products.

Spastica Rex's picture


That's one of the key "choice" components of contemporary "capitalism."

fonzannoon's picture

Simpson/Bowles discussing the impact of the "announcement effect" of an announcement of an agreement on the stupid cliff, even if it is not really reached in principle or ever enacted.

GrinandBearit's picture

At this point AAPL IS the stock market.

When it drops, so will the entire market.

fonzannoon's picture

That was what I figured as well. It sure as hell seems like apple has a lot less impact on the S&P on the way down then it does on the way up.

Meesohaawnee's picture

clearing the helicopters before the napalm strike?? an I warning ahead?

slaughterer's picture

AAPL could keep on going down for another two weeks before their earnings.  

Catullus's picture

Mutual funds rotating out? Nah. They don't give a fuvk with other people's money

mrdenis's picture

perhaps Hong Kong Apple store is right .....

adr's picture

It's OK nat gas is still up $.25 this week on the increase or stored natural gas to 7% above the five year average, instead of 7.5%.

There is that wonderful Wall Street math again.

Wall Street, where less of an increase can mean a decrease.

disabledvet's picture

AOL is up over 125% in a year. How come you're not bitching about them too? Anywho...they're called "portfolio managers" now not "permabulls." They have so much money "they're just living on the dividends now"...even if the Fed tried...and kill that return as well.