When your best AAPL pump just isn't good enough...
Here is the only chart that matters... AAPL's ~3% drop today may not be the AAPLocalypse for your average high beta muppetry stock, but for a nation of day traders - this is the 2nd biggest non-earnings day drop in 6 months for AAPL.. and yes it's only dropped to Friday levels but its really all relative...
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The tumble in AAPL (and the broad market) appeared to occur as Crude oil accelerated nonsenically into the NYMEX close - breaking the high correlation between the two assets...
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Despite a late day panic buying scramble to get Nasdaq green, it ended its streak today...
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From the start of Yellen's testimony yesterday, stocks are higher - thanks to the meltup in the last few mins...
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and bonds are 10-12bps lower
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The US Dollar limped lower today (modestly lower on the week) led by CAD and GBP strength)... down 0.5% from the start of Yellen's testimony
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Silver gained notably on the day, gold less so alonmg with copper but crude's idiotic meltup mimics the same runs we have seen in other commodities this week\
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Yeah it was deja vu all over again in the oil patch... huge builds, record production, Saudi commenbts discounted early and record inventories... BUY BUY BUY...
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Charts: Bloomberg
Bonus Chart: Consider...
SSDQ pic.twitter.com/YHUQ4JqjXL [20]
— Not Jim Cramer (@Not_Jim_Cramer) February 25, 2015 [21]