• Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.
  • Tim Knight from...
    04/28/2016 - 00:27
    I was expecting a few boring candidate statements of the U.S. Senate - AKA the World's Most Exclusive Club - but, boy, was I wrong. Just take a look at some of these gems.

Gravitation Returns As Apple Falls, Drags Everything With It

Tyler Durden's picture




 

Four of the last five days have seen AAPL stock price swing +/- 3 sigma with today's drop approaching the largest drop in six months as rumors of iPhone sales weakness spread virally. Realized volatility is exploding on many different measures and AAPL implied volatility back to November highs. Of course as tensions mounts and the stock breaks Monday's closing VWAP, so margin calls on options expiring tomorrow are flopping over into various other markets as S&P 500 e-mini futures drop back below their 50DMA and VIX jumps up over 19.5% once again. Gold has pulled back in line with the USD and while the S&P 500 flip-flopped between bullishly synced with the USD and bearishly synced with Treasuries, for now equities in general are trying to catch up to longer-term Treasury weakness.

The cyan, yellow, and dark blue lines are the closing VWAPs of the last few days and as is clear we see heavy volume around these levels. The break just now of the closing VWAP from Monday's low print day was accompanied heavy volume once again...

With huge sigma moves over the last few days that will likely wreak havoc with anyone's risk-return optimizer...

As realized vol has exploded...

And broad asset class movements have been very interesting...

But the Equity-Treasury divergence intraday is actualy a convergence to Treasury's implied weakness from the last week...

Charts: Bloomberg

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Thu, 04/19/2012 - 14:55 | 2359143 Ahmeexnal
Ahmeexnal's picture

BTFD!

Thu, 04/19/2012 - 15:08 | 2359204 Oh regional Indian
Oh regional Indian's picture

Beyond ironic that Apple (as an idea/stock/product) is where it is, in the big apple.

ori

Thu, 04/19/2012 - 15:39 | 2359287 Levadiakos
Levadiakos's picture

I buy cash 

Thu, 04/19/2012 - 17:47 | 2359303 The Big Ching-aso
The Big Ching-aso's picture

 

 

 

AAPL used to be the apple of me one good eye until it cost too much to look at it.

 

 

 

Thu, 04/19/2012 - 20:48 | 2359993 AldousHuxley
AldousHuxley's picture

why buy appl when you can buy friends....facebook IPO in May

Splunk IPO today. x2.

Thu, 04/19/2012 - 15:10 | 2359207 slaughterer
slaughterer's picture

Now that ZH has broadcast the downward movement, it is safe to buy AAPL again. 

Thu, 04/19/2012 - 15:43 | 2359304 Levadiakos
Levadiakos's picture

This is the last remaining retail stock out there. everything else is managed asset allocation programs...

It's not surprising that the SPX is threatening to break the handle of an inverse cup and handle pattern here this afternoon (~1373-4)

'

The only way the market survives is if "Mad Money" is canceled.

Thu, 04/19/2012 - 16:05 | 2359380 Comay Mierda
Comay Mierda's picture

AAPL breaking key support levels on heavy volume and heading lower to eventually fill the gaps at $570 and $430.  great shorting opportunity

Thu, 04/19/2012 - 16:16 | 2359413 Levadiakos
Levadiakos's picture

A NFLX overlay wpuld play out nicely and it's ironic that AAPL pps is/was almost exactly 2 times NFLX playing from the top at $305.

Thu, 04/19/2012 - 15:44 | 2359307 SheepDog-One
SheepDog-One's picture

Go for it.

Thu, 04/19/2012 - 15:24 | 2359243 LongSoupLine
LongSoupLine's picture

Warren's prostate must be unloading.

Thu, 04/19/2012 - 15:42 | 2359299 LongSoupLine
LongSoupLine's picture

Check out the 3+ million SPY share spike at 3:27.39

3+ million shares in less than a second at 137.6+ each??....yeah, must be a "day trader"...or Waddle and Reed.

Thu, 04/19/2012 - 16:03 | 2359379 Gringo Viejo
Gringo Viejo's picture

If I'm in gold at $1,900.....I'm disappointed.

If I'm in Apple at $644......I'm very fucking nervous.

Thu, 04/19/2012 - 14:58 | 2359155 Bam_Man
Bam_Man's picture

Nothing to see here.

It is perfectly normal for the stock of "The Most Valuable Company in the World" to have intraday swings of 3-5% every single day.

Otherwise you might be tempted to think that the stock of "The Most Valuable Company in the World" is nothing but a Hedge Fund/HFT plaything.

Thu, 04/19/2012 - 14:59 | 2359172 dow2000
dow2000's picture

Sta-bil-i-teeeeeeeeeeeeee! Fed Manadate!

Thu, 04/19/2012 - 14:58 | 2359159 HedgeAccordingly
HedgeAccordingly's picture

Once again the entire market is brought to her knees by one lonely stock - Crapple -

crapple Vs Goog - http://hedge.ly/HLf767 

Goog held firm..

Thu, 04/19/2012 - 14:59 | 2359174 Ahmeexnal
Ahmeexnal's picture

goog is a cia/rothschild operation.

Thu, 04/19/2012 - 15:18 | 2359226 engineertheeconomy
engineertheeconomy's picture

GOOG and AAPL both  cater to the military-banking-complex. They all sleep in the same bed

Thu, 04/19/2012 - 15:17 | 2359228 Clueless Economist
Clueless Economist's picture

SHUT UP JIM MORRISON

Thu, 04/19/2012 - 16:19 | 2359427 NotApplicable
NotApplicable's picture

I LOLed.

Thu, 04/19/2012 - 18:40 | 2359761 CPL
CPL's picture

the lizard king...uncanny.

Thu, 04/19/2012 - 23:21 | 2360265 Treason Season
Treason Season's picture

Pop trivia question of the night

Who's father was intimately involved in one of America's illegal war and how?

Give up? The Viet Cong didn't

 

George Stephen Morrison (January 7, 1919 - November 17, 2008) was a Rear Admiral and naval aviator in the United States Navy. Morrison was commander of the U.S. naval forces in the Gulf of Tonkin during the Gulf of Tonkin Incident of August 1964. He was the father of Jim Morrison, the lead singer of the rock band The Doors.[1][2][3]

 

Thu, 04/19/2012 - 15:46 | 2359319 blu
blu's picture

GOOG has too much power to work for anyone except themselves. I'm more concerned that the CIA and Rothschilds will be soon or are already working for GOOG.

Thu, 04/19/2012 - 16:20 | 2359433 NotApplicable
NotApplicable's picture

Yeah, and all of their initial operating capital just magically appeared out of nowhere.

Thu, 04/19/2012 - 15:46 | 2359311 Levadiakos
Levadiakos's picture

I just need Michele Caruso Cabrarrea's opinion like I need cancer. is there a more ignorant person on  TV?

Thu, 04/19/2012 - 16:04 | 2359377 blunderdog
blunderdog's picture

You're not supposed to listen to her, she's just there so you can look at her tits.

Thu, 04/19/2012 - 16:13 | 2359403 Levadiakos
Levadiakos's picture

Don't get that far w/ sound off because I gag at the face

Thu, 04/19/2012 - 14:58 | 2359161 JW n FL
JW n FL's picture

 

 

High Hoe!

High Hoe!

A Shorting I did GO!

 

Thu, 04/19/2012 - 16:06 | 2359382 DCFusor
DCFusor's picture

Short from 621, myself.  yee ha.

Thu, 04/19/2012 - 14:57 | 2359162 UP Forester
UP Forester's picture

GERONIMO!

Thu, 04/19/2012 - 14:57 | 2359166 brucef9321
brucef9321's picture

i getting tired of this stuff.

 

 

Thu, 04/19/2012 - 15:45 | 2359309 blu
blu's picture

There's an app for that actually.

Thu, 04/19/2012 - 14:58 | 2359167 Pancho Villa
Pancho Villa's picture

Apple once had a product called the Newton. It was a flop.

Thu, 04/19/2012 - 15:01 | 2359180 Ahmeexnal
Ahmeexnal's picture

you obviously never had one.

Thu, 04/19/2012 - 15:53 | 2359340 Levadiakos
Levadiakos's picture

legs furiously pumping their stiff green gallop

Thu, 04/19/2012 - 15:56 | 2359348 Pancho Villa
Pancho Villa's picture

No, I never owned one. A friend of mine had one and he said it had nice features, but the software was kind of buggy and the price was rather high. There was a famous episode of the Simpsons where one of the school bullies tries to make a note on his Newton saying "Beat up Martin", but the Newton translates this as "Eat up Martha". So he just throws the Newton at Martin.

And naming an Apple product for a guy famous for observing falling apples seems like tempting fate. But then, Apple was able to get some sort of revenge by dropping the Newton.

The Newton was one of the products that Apple came out with after Steve Jobs was pushed out. Scully and the managers that followed just didn't seem to have Jobs' knack for creating killer products. Sales rose for a couple of years after Jobs left, then stagnated. Will the same thing happen again?

Thu, 04/19/2012 - 15:57 | 2359360 Levadiakos
Levadiakos's picture

Could you fry an egg on it?

Thu, 04/19/2012 - 16:10 | 2359396 blunderdog
blunderdog's picture

I had one (for work purposes) and supported them for awhile.  They sucked, unless you were one of the lucky folks whose cursive handwriting worked the way the Newton expected it to.  It didn't get too hot, it ran on AA's and fit in a pocket.  It was no match for the Palms and the Wizards and all the other devices with keyboards on 'em.

Thu, 04/19/2012 - 14:58 | 2359168 TradingJoe
TradingJoe's picture

Ah, yeah, options expiration, since when does it care anymore!? Up by Monday eh?!

Thu, 04/19/2012 - 15:02 | 2359169 slaughterer
slaughterer's picture

Looks like the maximum pain pin for tomorrow is $590.  MMs always kill off AAPL options players on opex.  It is tradition.     

Thu, 04/19/2012 - 14:59 | 2359173 pods
pods's picture

I thought it was against the rules for AAPL to go down?

pods

Thu, 04/19/2012 - 15:42 | 2359305 blu
blu's picture

Read the fine print there. It's against the rules unless GS or MS or one of the others is set to make a profit on the move.

Thu, 04/19/2012 - 16:28 | 2359457 LongSoupLine
LongSoupLine's picture

Good point blu...after all, GS did just upgrade AAPL.  go figure.

Thu, 04/19/2012 - 15:00 | 2359179 Paul Atreides
Paul Atreides's picture

The hedge fund hotel has cockroaches.

Thu, 04/19/2012 - 16:19 | 2359419 Levadiakos
Levadiakos's picture

Thought they learned that lesson with FSLR, NFLX &c, &c

Thu, 04/19/2012 - 15:01 | 2359182 slaughterer
slaughterer's picture

Whoever was selling calls for tommorrow is clearly in control of the situation. 

Thu, 04/19/2012 - 15:05 | 2359196 Christoph830
Christoph830's picture

3-4 pm ramp-up anyone?

Thu, 04/19/2012 - 16:19 | 2359424 Levadiakos
Levadiakos's picture

50 Dow points right atcha

Thu, 04/19/2012 - 15:07 | 2359198 Ted Baker
Ted Baker's picture

THE BEAR SHORTING AT 425$ THE PIECE

Thu, 04/19/2012 - 15:08 | 2359201 Silversem
Silversem's picture

Why buy an apple if you can also buy Gold (or trade it with a contract for difference)

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