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For Once Europe Was Right: AAPL Sliding Pre-Open

Submitted by Tyler Durden on 10/31/2012 08:46 -0400

We noted yesterday that European traders in the USA's 'first stock' AAPL were far less sanguine about the recent dismissals than the plthora of bloviators appearing in ouyr screens to calm down the maddening crowd. It seems, from pre-market trading, that Europe was right. AAPL is down 1.2% (with the market broadly up 0.5%), trading below $600 at $596 (inching closer to its 200DMA recent lows at $588), retracing much of its 'v-shaped' recovery from Friday.

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Wed, 10/31/2012 - 08:47 | 2934088 HD

Is that legal?

Wed, 10/31/2012 - 08:49 | 2934094 maxmad

AAPL rotting to the core!!

Wed, 10/31/2012 - 09:27 | 2934172 unrulian

APPL can't drop....they don't grow on trees

Wed, 10/31/2012 - 09:43 | 2934216 The Limerick King

APPL is missing their boss

A Cook has begun making sauce

Their products are stale

This year is a fail

Prepare for an upcoming loss

Wed, 10/31/2012 - 08:52 | 2934099 Schlomo Bergstein

We will make it legal.

Wed, 10/31/2012 - 08:57 | 2934102 GetZeeGold

Justice Roberts is on the job. Eric Holder will seal the deal.

Wed, 10/31/2012 - 09:02 | 2934119 slaughterer

Kevin Henry wanted to test some new ramp-o-matic algos on AAPL today. The PM MMs are setting up a formidable challenge for the boy. Let's see if Kev' can turn AAPL into morning wood today.

Wed, 10/31/2012 - 09:45 | 2934218 fuu

Who are the PM MM's?

Wed, 10/31/2012 - 08:48 | 2934090 stinkhammer

Faapl

Wed, 10/31/2012 - 09:08 | 2934137 kridkrid

This makes no sense. Apple continues to be miles ahead with innovation... The two commercials that I've seen on the iPhone 5, for example... They have made the screen the same length as the average human thumb... Pure genius. And the ear bud thing! It blew me away. And don't get me started with taking the iPad and making it smaller.

Wed, 10/31/2012 - 09:21 | 2934157 EscapeKey

I also like how Tim Cook some time back stood up and proclaimed that Apple would never release a 7" tablet. He was right. It is 7.97".

And they won't increase the size of the iPhone, because then you can't "use it with one hand". However, when it comes to iPad's, the iPad Mini "can be used with one hand".

Anyway, not that this matters. History is full of companies which have been ahead of the pack, with a closed environment. Usually, the open environment wins in the end.

Wed, 10/31/2012 - 09:30 | 2934182 kridkrid

I'm not an apple hater, at all... In fact, I'm typing this from my iPad. But those two commercials were absolute head shakers. Better to not run an ad at all,I would think. Or at least not one that touts innovation but provides two examples that are, in fact, the opposite of innovation.

Wed, 10/31/2012 - 09:38 | 2934202 Acet

Infidel! Don't you know that Apple once again broke through the innovation sound-barrier by inventing a smart-phone with FIVE rows of icons!???

*sigh*

.. and for my company we have chosen to actually start with an iPhone Application as our launch product ...

*sigh*

Wed, 10/31/2012 - 11:25 | 2934544 smlbizman

ahh....like 7 minute abs...

Wed, 10/31/2012 - 09:09 | 2934091 GetZeeGold

AAPL Sliding Pre-Open

OK....maybe it's a little serious then. Dazed and confused in Manhattan without a cell signal. Why isn't this damn thing working?

Wed, 10/31/2012 - 08:51 | 2934097 Flaming Ferrari

Take a bite and relax.

Wed, 10/31/2012 - 08:54 | 2934103 youngman

Talk about a window dressing stock..this is the biggest one...

Wed, 10/31/2012 - 09:26 | 2934168 EscapeKey

I wouldn't call it that. They just enjoy a fat margin, as they've been ahead of the bunch.

However, their advantage is rapidly disappearing - have you seen the specs of the upcoming Nexus 10? Beats Apple in every aspect. And then there's the important bit - the price. $399!

Imagine what will happen to Apple's margins, once the brainwashed masses wake up to the fact that Apple has innovated very little over the past few years (Siri? You gotta be kidding. Extra row of icons? Puh-lease).

Wed, 10/31/2012 - 08:54 | 2934107 icanhasbailout

I got one with half a worm in it

Wed, 10/31/2012 - 08:56 | 2934111 MFLTucson

AAPL grossly overpriced when you think of it as a computer and telephone maker because it is really nothing more, just as Google is nothing more than a search engine.

Wed, 10/31/2012 - 08:57 | 2934115 buzzsaw99

The public ass-raping will resume in 33 minutes.

Wed, 10/31/2012 - 08:58 | 2934116 LongSoupLine

eur/usd now over 1.30 and climbing pip by pip (1.3008).

total crooked fucking bullshit. fuck you bernanke.

Wed, 10/31/2012 - 09:14 | 2934149 DeadFred

They ramped futures 1% but there's no one in those positions, the ramp will evaporate like spilled gas in the sun. Billions in insurance company assets need to be liquidated starting at the open. If Romney really has any friends with money they will see the opportunity the last half of this week represents. The BS you're seeing isn't so much crooked as scared. Good call on Bernanke though.

Wed, 10/31/2012 - 09:22 | 2934163 buzzsaw99

Billions in insurance company assets need to be liquidated starting at the open...

They won't run any bulk sales through the so-called "market". That's what dark pools are for. Only pension funds pay retail.

Wed, 10/31/2012 - 09:45 | 2934222 DeadFred

SPY 137.5 weekly puts at 0.06 seemed a good place to place the wager. The odds are like betting on 00 in craps but the payoff would be similar.

Wed, 10/31/2012 - 09:28 | 2934175 EscapeKey

All European problems have been succesfully brushed in under the carpet.

Currently, the ECB are out shopping. They need a bigger carpet.

Wed, 10/31/2012 - 09:04 | 2934125 buzzsaw99

The Morlocks are waiting for the stupid pension fund money to wander into their cave again.

Wed, 10/31/2012 - 09:40 | 2934209 Haager