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Stocks Open Up, But Are Fading Fast As AAPL Plunges

Submitted by Tyler Durden on 10/31/2012 09:44 -0400

Weak earnings over the last few days, notable weakness in Canadian GDP this morning and two dismal prints for Chicago PMI (early) and NAPM-Milwaukee all dragged on S&P 500 futures into the open. From strong overnight gains, ES was exactly at Friday's highs when the day-session opened. AAPL immediately dropped further from pre-open - down more than 2.5% at $586 (<200DMA) - note average trade size so far this morning is extremely high for AAPL. Insurers are being hit hard with TRV down 1.9%, CB down 0.9%, ALL down 0.7%, and AIG down 1.2%. Some of the most stunning moves are in: UBS +14% (they should fire more people we guess), bankrupt A123 +13%, and Western Union -25% (miss).

S&P 500 futures...

AAPL...

and so much for Canada...

Sectors are mixed - Materials best (rebuilding?) and Discretionary worst...

Charts: Bloomberg

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Wed, 10/31/2012 - 09:45 | 2934224 GetZeeGold

.....and it's gone.

Wed, 10/31/2012 - 09:50 | 2934245 maxmad

Taking a mental picture of dow 13k... may not see this again... Then again take a mental picture of a loaf of bread for $1.59.... it's gone....Dollar is Dead!

Wed, 10/31/2012 - 09:52 | 2934247 malikai

TURN THOSE MACHINES BACK ON!$!#@!

Er, wait, they are on..

TURN THOSE MACHINES BACK OFF!#$#@

Wed, 10/31/2012 - 09:55 | 2934261 CPL

80% of the worlds trades in three shops (one really).

Eggs meet basket, basket meet eggs.

Wed, 10/31/2012 - 10:12 | 2934308 pods

Coming soon: Egg basket meet bowling ball.

pods

Wed, 10/31/2012 - 18:05 | 2934348 Precious

What's Scott Cook. A supply chain guy. What's Scott Forstall. A hardware and software technology guy. Fuck supply chain. Tyco can do supply chain. Guess the ignoramus, supply chain guru Tim Cook, didn't expect to lose $2 Billion in market valuation by firing Forstall. Hey Tim: You don't fire the guy that actually leads innovation. Investors don't give a shit about your supply chain acumen, which by the way, hasn't been going so well. Maybe you should be the one getting fired, Tim.

It seems like Forstall was a large participant in most recent innovations at Apple. Siri and Maps were not failures as the press would have you believe. Forstall gets all the blame? This is a guy who has been around since NeXT days. Oh. Too bad. He criticized all those engineering primadonnas at Apple. What. They can't take any criticism or directions? Like all the spoiled brats in Silicon Valley, they are worse than a bunch of hens with roadbikes and ponytails. And they love to use the schmeblings in the press like the whore-Satans at All-Things-J to vent their bleeding hearts. He actually made me get my project done on time. Just look at all the anti-Forstall articles and the fact that most of them are written by the margin lusting Torah faction quoting some off the record program manager or engineer. In fact, Forstall has been at the front of the most successful products in recent history. But surely this success cannot go unpunished. Forstall was fired because he wouldn't apologize for Maps? Fuck you Scott Cook, you stupid slut. You're ugly too, and probably gay. Well. Nevermind, huh. There is a long line of successors already designated by the head Rabbi.

It is obvious that the Semites wanted Forstall gone. Apple is one of the few tech companies they have not completely purged of goys with balls. They constantly lusted after control of Apple, until they finally got it, just like they control Microsoft, Oracle, Dell, Google, Facebook, Salesforce, Yahoo, AOL, Twitter, Craigslist, Wikipedia and on and on. They must have some map of the world with a fucking Luciferian triangle at the epicenter. Jobs had a bead on these people. Why did Jobs pick the fascist Isaacson to write his biography. Keep your enemies closer? He knew how the game worked. He sold Pixar to Disney in spite of the bozo Eisner. Now Iger-J acquires Lucasfilm. Do these fucking moneychangers have even one original bone in their body? Apple will be destroyed within 5 years. All by Tim Cook. The guy who didn't have the balls to tell the heebs where to get off. In Europe they know this already. Americans are just too ignorant to stop being tools for these people. And you can't get a much more naive American than Tim Cook from Alabama.

Anyway. Apple is now unseaworthy, just like Steve Job's freaky yacht with the hole in the bow and the asshat on top. Maybe Forstall can run Google's reincarnation of NeXT, which they conveniently call Nexus with the big X logo in neo-Apple rainbow, and which is poised to kick the shit out of Apple.

Don't forget. Brin and Page wanted to hire Steve Jobs as the CEO of Google. That tells you where their heads are at.

So now the metrosexuals think that Industrial Designer [SIC] Sir Jonathan Ives from Chingford England will rescue Apple -- Just like Sir Howard Stringer (Rabbi Pick) saved Sony. (LMAO) This is all the same category of what steaming pile of shit LIARS and POSERS look like -> Tim Cook: POSER = BARACK OBAMA: POSER (Remember Israel - Obama has your back)

Wed, 10/31/2012 - 10:48 | 2934399 monkeyboy

Guess all that added liquidity didn't help.

Wed, 10/31/2012 - 09:55 | 2934263 Gordon Freeman

AAPL down 1% is a plunge?? More like Brownian motion...

Wed, 10/31/2012 - 10:14 | 2934313 Spastica Rex

So where the hell is Half-Life 3, Gordon?

Wed, 10/31/2012 - 14:27 | 2935212 TWSceptic

Would you consider 700 to 590+- to be a plunge then?

Wed, 10/31/2012 - 09:46 | 2934226 helping_friendl...

As Apple goes, so goes the SnP.

Wed, 10/31/2012 - 10:11 | 2934295 DeadFred

A bounce off the 200 on the first try heading back for try number two. Most times when a support level is hit it's a good time to bet the other direction but most times aren't when the cute little trading computers are angry for being turned off for two extra days. At the nanosecond level two days is a long time to simmer.

Wed, 10/31/2012 - 09:46 | 2934227 JPM Hater001

Where's Slaughterer...

I got 1 oz says today finishes red.

Wed, 10/31/2012 - 09:49 | 2934241 slaughterer

Bullish bets are off for today.

Wed, 10/31/2012 - 10:02 | 2934279 CPL

How does that change the past two weeks?

Hedge funds are pounding the sell button to escape position. No retail suckers left.

Wed, 10/31/2012 - 10:14 | 2934309 malikai

Equity shorts beware:

http://blog.quantsig.net/2012/10/31/10-year-5/

I would post some of my equity models but the selector's gone wonky on them thanks to the exchanges shutting down so they're not good right now.

Wed, 10/31/2012 - 09:54 | 2934257 Dr. Engali

There will not be a down tick allowed until after the election.

Wed, 10/31/2012 - 10:16 | 2934316 Spastica Rex

But no pre-election rally?

Wed, 10/31/2012 - 17:17 | 2935710 JPM Hater001

Will floggings continue until after the elections? I love the floggings.

Wed, 10/31/2012 - 09:47 | 2934229 maxmad

Apparantly Hurricanes are bad for an economy?? Who would've thought... China, please come back!!! We need you!

Wed, 10/31/2012 - 09:48 | 2934235 spastic_colon

Chicago PMI.....miss

Wed, 10/31/2012 - 09:49 | 2934238 cashcow

major outbreak of dysentery reported in NYC. currently limited to long $AAPL fund managers.

Wed, 10/31/2012 - 09:49 | 2934239 cashcow

major outbreak of dysentery reported in NYC. currently limited to long $AAPL fund managers.

Wed, 10/31/2012 - 09:50 | 2934243 helping_friendl...

Oh Kevin Henry has carpeltunnel syndrome from hitting the buy key.

Wed, 10/31/2012 - 09:55 | 2934258 hedgehog9999

It will take a long time to restore full subway service, bullish?

Wed, 10/31/2012 - 10:19 | 2934323 DeadFred

This will make a good test situation. With NYC working at 50% capacity or less will that help or hurt the economy, i.e. is New York a net help or hinderance to the US?

Wed, 10/31/2012 - 10:28 | 2934343 BurningFuld

Why not just set up canoe rentals in the subway stations? You can paddle from station to station. It would work.

Wed, 10/31/2012 - 09:57 | 2934266 Bold Eagle

Kevin, what did you do to my room?!!!

Wed, 10/31/2012 - 10:01 | 2934273 silverscouseparis

lets pretend we need people..ALGOS DOWN BOY!...sorry i mean up- untill after the election.

Wed, 10/31/2012 - 10:04 | 2934284 helping_friendl...

Shovelling sand in Atlantic City?

All the derelict gamblers are shut out of the casinos and are opening eTrade accounts.

Wed, 10/31/2012 - 10:07 | 2934293 orangegeek

Shit results from Canada and Toronto Index is up 0.5% (about 60 points) in the first 15 minutes.

Tanking economy looks bullish. Long Canada everyone.

Wed, 10/31/2012 - 10:20 | 2934326 helping_friendl...

Traders have no idea how they are going to trade since they have no internet or phone connection!

WTF?

Trader: No Idea How We Will Trade on NYSE TodayTrader: No Idea How We Will Trade on NYSE Today No Idea How We Wil Trade on NYSE TodayTrader: No Idea How We Will Trade on NYSE Today

http://www.bloomberg.com/video/trader-no-idea-how-we-will-trade-on-nyse-today-XTveIch5QFafwSBvW48xlQ.html

Wed, 10/31/2012 - 10:53 | 2934350 Lendo