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AAPL's Worst Dump In 7 Months Sparks Nasdaq Slump
Treasuries closed practically unchanged today after yields spiked higher on 'ceasefire' news then rallied lower all day long (30Y -2bps 2Y unch). Credit markets surged tighter on the news then collapsed wider to the lows of the week by the close (diverging from stocks). The USDollar slipped lower on the day, led by EUR strength. Gold ($1,270) and silver limped higher all day but WTI crude took off, gaining back all the flush losses from yesterday (above $95). In stock-land, the cease-fire sparked exuberance to new record-highs. That strength began to fade as soon as the US opened with notable selling in the holiest-of-holies - AAPL. This wesighed on Nasdaq heavily (to red on the week) and Russell high-beta stocks tumbled. Despite the standard late-day VWAP ramp, stocks were unable to recover as USDJPY was no help after breaking back below 105.00 and ended with the worst day in 5 weeks. And finally, of course, the S&P 500 closed with a 2,000 handle - so crucial to maintain the dream.
S&P 2,000 remains all that matters...The last 7 days => 1997.92, 2000.02, 2000.12, 1996.74, 2003.37, 2002.28... and today...2000.75
USDJPY was in charge of stocks (as AUDJPY correlation broke down)...
From the ceasefire headlines, stocks juimped but gave it all back once the US opened...
On the week the USD is up 0.15%, and the broad US equity market is down 0.15%...
With homebuilders and Energy underperforming...
High-beta momo had a very volatile day...
Treasury yields rallied back from 'ceasefire' spike high yields...
Credit remains unamused by the exuberance in stocks...
FX markets had a change of trend today as recent USD strength faded with EUR strength and some JPY buying...
PMs traded flat to very slightly higher, copper faded, but WTI crude took off...
Brent tracked WTI pretty tightly all day...
It's all AAPL's fault!!! Worst day in 7 months on heavy volume...
AAPL up close...the machines were extremely active
Charts: Bloomberg
Bonus Chart: Small Caps continue to underperform...
Wee Small Cap Divergence pic.twitter.com/YruNM0LRAz
— Not Jim Cramer (@Not_Jim_Cramer) September 3, 2014
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Jeez, and Jennifer Lawrence wasn't even that hot. Way to go iCloud.
I did a really bad dump today too! Was a triple wiper!!!
Wait...Wasn't Apple trading at like $700 per share at one point? What the hell happened?
(Not a trader or close follower of stocks)
NEVERMIND. Read what happened.
I thought Jennifer Lawrence was pretty damn hot..
So did I and every man with a pair of meat marbles betwitxt his thighs. Fat women have junked thee this night.
So why did the "holiest of holies" get slammed?
Naked celeb photos or iPhone 6 doesn't include a moral compass app?
Meh.... Scare tactics to get retail out of the stawk before they run it up on record iTurd6 sales.
"I want you to enter the Holiest of Holies"
"Oh, that's quite a coincidence, because I want you to sit on the Poliest of Polies."
- Jack Black in Year One
Because of the Samsung Note 4/Oculus announcement. That could take away market from the i6, unless Apple has really outdone themselves.
Not to worry. Kevin Henry will easily fix it tomorrow.
AAPL stock down? What on earth is fappening?
LOL
Just when I am going to buy my first apple product. Thinking of getting one of those new big screen iphones so I can trade and bullshit with you guys from a kayak.
You've got to look really hip while doing it tho. I'm thinking hipster beard? (Unfortunately, dancing with lots of young people is out, as you mentioned kayak).
Hand-knit beanie cap, dreadlocks, Subaru Impreza, Birkenstocks, Canon camera with big lens, "Ragnar" and "World Wildlife Fund" bumper stickers, Bamboo paddle, iTaze vape kit with clove liquid, aloof attitude.
They may not even sell one to this sore thumb.
If you can stand in line for a week to buy it, you will love it a lot more.
mmmmmm, charts. But, no VIX. I could use some VIX right now, my optimism passages are kinda blocked.
Remember SP-Y2k and the imminent internets clock crash ? ..... fuck, that was a blast !
buying will resume later today, at 0:00 Z (midnight Greenwich mean time)
iDump
For fuck sake, get some more guys out in that line on the damned sidewalk! Do I have to do ALL the fucking thinking?
Geesh, AAPL down 4 bucks, 4% and we all get our panties in a wad. What is the big deal. Down $40, than we can talk.
Now that they got the S&P above the magic 2000 barrier, those fuckers will do anything to keep it above there.
Big move + big volume = big boys getting out
Spoos 1980-something by weeks end after ecb does nothing tomorrow (and people will behave like that is a crash).
How does a software application correct? It doesn't. BTFD
Apple remains a good mid and long term buy... they gonna work with samsung in re china... into india... much honor for famiree...
New products built in the stock price. Only one option left for Tim Cook AAPL. Sell more debt to purchase more shares.
I hate Apple fucking kids toy! Built for sheep by sheep!
AAPL is still very strong. Its relative strength is still 87. When it breaks the 50 and 200 day moving averages, call me back.
Wait until Apple releases iPhone 6 then 6b then 6c then 6d then 6e before moving out to the 7 series, all successively one after another in certain nice interval time... look at how the apple fan boys are collecting the releases while contributing to the company's profit thus AAPL stock prices will be up, up and up...
Have no fear dudes, AAPL won't run away leaving you the dust, it's an immortal bull!! Bullish foreva