Mace is shorting AAPL furiously to keep the stock pinned under $160 in order to avoid sending Demian an iPhone

Looks like the selling does indeed have further to go. A breakdown for the indices below support seems just around the corner. There’s a lot of capitulative action going on across the board in various stocks, but particularly in the momo favourites. A short here might work a treat actually! Bears need to break the indices for the close, or they are totally screwed though, because intraday shorts will cover and dip buyers will emerge in full force. They won’t get another chance easily.

157.6x holds, look at yesterday chart. IMO we will go to 158.3x in a row

Kerplunk.. indices successfully broken support ad AAPL with them. If 156.65 doesn’t hold then we head for just under $155 IMO.

Falling. How many cliffs can one stock step off of in one afternoon?

[quote author=“JimDE”]Falling. How many cliffs can one stock step off of in one afternoon?

Actually AAPL is bearing up relatively well considering..not even down 1% yet. Even RIMM is red and not far off AAPL in terms of its relative decline.

You can blame the semis for today - the MU result last night panicked the cows into dumping tech fairly indiscriminately. As I pointed out, the irony is that their loss is AAPL/RIMM/HPQ’s gain due to fatter margins.

If the market was genuinely worried, then you would see TGT and WMT - retailers - green with everything else red. This is pure nervous-nellie profit-taking and some opportunistic short selling IMO, but that’s not to belittle its effect, of course

Here comes that 3:00 rally…......

[quote author=“Tommo_UK”][quote author=“JimDE”]Falling. How many cliffs can one stock step off of in one afternoon?

Actually AAPL is bearing up relatively well considering..not even down 1% yet. Even RIMM is red and not far off AAPL in terms of its relative decline.

You can blame the semis for today - the MU result last night panicked the cows into dumping tech fairly indiscriminately. As I pointed out, the irony is that their loss is AAPL/RIMM/HPQ’s gain due to fatter margins.

If the market was genuinely worried, then you would see TGT and WMT - retailers - green with everything else red. This is pure nervous-nellie profit-taking and some opportunistic short selling IMO, but that’s not to belittle its effect, of course roll

Well said

I think it will be for a short period

Come Monday Aapl will be over 160

THAT is the spirit!

goapplego…

[quote author=“omacvi”]Come Monday Aapl will be over 160

All depends on RIMM.. the Street’s reaction to its earnings (assuming they’re way above expectations, again) will be a big tell. The thing is, RIMM management was in no way conservative in its last guidance. Its guidance was quite strong. For it to beat in a big way, they will have to deliver exceptional growth. RIMM may get routed if it doesn’t beat, and beat very big, and drag other momentum faves down with it. I think secretly there’s a lot of nervousness about this, but you won’t see many stories about it because hedge funds own 20% of RIMM and are probably leaning on all their shill media whore friends to avoid writing anything remotely negative about the stock.

For AAPL’s sake, I hope RIMM has a blow-out quarter.

When does RIMM report?

Edit: Tomorrow

[quote author=“Tommo_UK”][quote author=“JimDE”]Falling. How many cliffs can one stock step off of in one afternoon?

Actually AAPL is bearing up relatively well considering..not even down 1% yet. Even RIMM is red and not far off AAPL in terms of its relative decline.

You can blame the semis for today - the MU result last night panicked the cows into dumping tech fairly indiscriminately. As I pointed out, the irony is that their loss is AAPL/RIMM/HPQ’s gain due to fatter margins.

If the market was genuinely worried, then you would see TGT and WMT - retailers - green with everything else red. This is pure nervous-nellie profit-taking and some opportunistic short selling IMO, but that’s not to belittle its effect, of course

You’re right, of course, in the larger perspective. But in the last 2 days, I’ve taken several long positions that have all gotten stopped out. Some winners, some losers (slight net loss at the moment, not to mention trading costs ). Even the run above 159 didn’t hold. On the way down I keep looking for some semblance of a rally, but they’ve been merely a series of head fakes.

EDIT: even as I wrote that it was climbing again to the level of the last step down. I thnk I’m going to stand aside, take a deep breath and meditate on the error of my ways. 

EDIT 2: Besides, the volume looks thin and indecisive today.

* Yawns and stretches *
Is it 4:00 yet?  No.  OK.  ZZZZZzzzzzz…...

That $160.00 I saw was a mirage, but maybe I will arrive there tomorrow…........

Mace, will you please stop shorting AAPL down?

OK, was not!, was 158.1x in three rows…