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The Dow Curse Strikes Again: AAPL Tumbles, AT&T Jumps After Index Switch
In the weeks before AAPL's adition to The Dow, the stock soared over 13% (for no good reason). In the almost 4 months since - after some sideways trading - AAPL shares have plunged. The announcement on March 6th, that AAPL would be included in The Dow on March 19th marked the end of exuberance and has now turned into a "no brainer" trade as the curse of The Dow strikes again. Ironically AT&T - which was replaced by Apple - has surged since its removal from the venerable index.
AAPL has tumbled...
And AT&T has soared...
As WSJ reports, since 1999, the 16 firms joining the Dow (Apple excluded) have seen their stocks increase an average 1% in the six months after their induction, according to data gathered by Birinyi Associates. That’s compared to gains of 11%, on average, for the companies in the six months preceding their inclusion.
Charts: Bloomberg
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You get added to the DOW when your growth is done, no wonder that gives people a reason to sell it at current valuations.
Being in the DOW means you get a cut of the heroin distribution money.
Sorry AT&T.
It never seems to fail. Being added to the DOW is like the kiss of death.
I love the smell of the DOW curse, it smells like, like, VICTORY!
PBR Streetgang?
PBR Streetgang?
Huh? When is Dancing With the Stars on?
As soon as scott gets back together with kourtney.
I leave for 3-4 hours to sprinkle a loved ones ashes in the Pacific Ocean and come back to see these ISM numbers!
This is the biggest farcical order build on top of the biggest q-4 '14 inventory build in the history of Mankind.
Who is going to buy all this rehypothecated crap? The labor rate numbers were shit last week, gas prices aren't dropping... Nor are food,rent,insurance costs.
The Chinese equity markets are a giant shell game, and the Japanese have printed so much yen as to completely *manipulate the commodity complex during the Asian trading session.
* The Chinese are allowing the yuan to appreciate vs the $usd, and gain nothing by hammering rehypothecated paper commodities. (like the boj)
They(pboc) are selling Treasuries to make margin calls. The PBoC of wants higher commodity prices to cover their 3x levered 'empty warehouse/letter of credit' ponzi scheme.
AAPL is toast looks like. Thier Golden Era has come and gone.
It's a ~20 year thing roughly. From $9 and talk of folding, to the iPhone. And back (maybe...)
It's at&t.... not AT&T.
AT&T went belly up.
All you Direct TV subscribers will be happy to know at&t owns Direct TV now. You can look forward to some really excellent service now.
No. It's actually this curse>>>
https://biblicisminstitute.wordpress.com/2014/07/17/is-america-cursed/
Central banks have bought all the markets,who gives a shit anymore