“Shares in Apple Computer experienced two sharp downward spikes today,” Mike Taylor reports for The New York Observer.
“The bearish Fight Club enthusiasts at Zero Hedge think Apple has experienced two mini flash crashes in one day,” Taylor reports. “Former tech CEO Karl Denninger, blogging for Seeking Alpha, sees today’s Apple action as an indication that the market is too dangerous for the retail investor: ‘Folks, this sort of crap is totally out of hand. And it’s now a daily game that’s being played by the machines, which are the only things that can react with this sort of speed, and they’re guaranteed to screw you, the average investor or trader.'”
“Meanwhile, Dow Jones Newswires attributes the move to rumors that chief operating officer and Steve Jobs’ No. 2 man Tim Cook is leaving for Hewlett-Packard. (Cook has denied that he’s leaving.) …The Financial Times takes a balanced approach, but also stops to note that viewed over 10 days, Apple’s spike downward looks much more severe than it does no the intraday chart,” Taylor reports. “Plus, there were weird spikes in other tech stocks — Research in Motion, IBM, Dell, General Electric, Oracle, Microsoft and the aforementioned Hewlett-Packard.”
Taylor reports, “Whoever’s right, and it could very well be nobody, we can be confident of one thing: Even to seasoned market observers, sudden price moves in stocks don’t always have explanations that are immediately obvious. Careful out there!”
Full article here.
MacDailyNews Take: One thing’s for sure: The morons at the SEC will be the last ones to figure out what’s going on.
It dropped because I bought today. Like every other time.
Then it goes back up after I curse the lost capital.
It dropped because I bought today. Like every other time.
Then it goes back up after I curse the lost capital.
Dip day.
Buy AAPL stocks!
2010 = $301
2011 = $401 period!
There are no bad news for Apple! Think long
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Zero virus
Zero debt
$46 Billion in Cash
Global expansion and hiring!!!!
Great management
High demand on current products! iPad, iPhone
New products in the pipeline
AAPL will pass XOM to be the number 1 company in the World in 2011
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Dip day.
Buy AAPL stocks!
2010 = $301
2011 = $401 period!
There are no bad news for Apple! Think long
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Zero virus
Zero debt
$46 Billion in Cash
Global expansion and hiring!!!!
Great management
High demand on current products! iPad, iPhone
New products in the pipeline
AAPL will pass XOM to be the number 1 company in the World in 2011
” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
Not everything is a conspiracy. Apple has a 1.39 beta. While not an exact science – Apple had more volatility as an individual stock, than the market as a whole. Hence potentially why Apple was do volatile today. At the same time – Apple may spike on a market down day. Not everything is a conspiracy MDN.
Not everything is a conspiracy. Apple has a 1.39 beta. While not an exact science – Apple had more volatility as an individual stock, than the market as a whole. Hence potentially why Apple was do volatile today. At the same time – Apple may spike on a market down day. Not everything is a conspiracy MDN.
Many stocks did exactly the same. It’s not always all about AAPL.
” width=”19″ height=”19″ alt=”wink” style=”border:0;” />
Many stocks did exactly the same. It’s not always all about AAPL.
” width=”19″ height=”19″ alt=”wink” style=”border:0;” />
I understand that if the SEC would put the Up Tick Rule back in, this crap and many others would be stopped.
But, as seen in other parts of the Federal Government, we don’t know who’s side they are on. But, we are sure it is not ours!
I understand that if the SEC would put the Up Tick Rule back in, this crap and many others would be stopped.
But, as seen in other parts of the Federal Government, we don’t know who’s side they are on. But, we are sure it is not ours!
@ diggitydog
Quiet! Or they’ll bring back the Evony adds. ( . )( . )
@ diggitydog
Quiet! Or they’ll bring back the Evony adds. ( . )( . )
I’m not, in fact, seeing ads for Lightroom. Instead I’ve been getting this all day:
ดาวน์โหลด Chrome ฟรี
เบราว์เซอร์ด้วยการออกแบบเรียบ และง่ายต่อการใช้ ดาวน์โหลดเดี๋ยวนี้ http://www.google.co.th/chrome
I’m not, in fact, seeing ads for Lightroom. Instead I’ve been getting this all day:
ดาวน์โหลด Chrome ฟรี
เบราว์เซอร์ด้วยการออกแบบเรียบ และง่ายต่อการใช้ ดาวน์โหลดเดี๋ยวนี้ http://www.google.co.th/chrome
Ah… vanishing posts… Set phasers on delete in 3…2…1…
Ah… vanishing posts… Set phasers on delete in 3…2…1…
There is a new generation of trading technology the SEC would rather not try to define. But highly-complicated, program trading signals combined with hyper-trading in nano seconds, is likely implicit in these new flash events. I doubt anyone at the SEC or even the brokerage upper management truly understand how it all works, perhaps not even he young techno-PhDs on staff who design these programs. What they do know is they are making money.
For the average investor, ignore brokers, newsletters, and CNBC. Find companies that analysts and other investors have misunderstood, where there is a gap between perception and reality, and just buy and hold, or short and hold.
There is a new generation of trading technology the SEC would rather not try to define. But highly-complicated, program trading signals combined with hyper-trading in nano seconds, is likely implicit in these new flash events. I doubt anyone at the SEC or even the brokerage upper management truly understand how it all works, perhaps not even he young techno-PhDs on staff who design these programs. What they do know is they are making money.
For the average investor, ignore brokers, newsletters, and CNBC. Find companies that analysts and other investors have misunderstood, where there is a gap between perception and reality, and just buy and hold, or short and hold.
Today, had nothing to do with a high beta. The price swing was virtually uncorrelated to the broader market. It was high volume of sell orders at the open that did it. Just end of quarter profit taking.
Today, had nothing to do with a high beta. The price swing was virtually uncorrelated to the broader market. It was high volume of sell orders at the open that did it. Just end of quarter profit taking.
Welcome to the neighborhood. Children, can you say “electronic manipulation”? I thought so.
Welcome to the neighborhood. Children, can you say “electronic manipulation”? I thought so.
Since this is, so far, a relatively quiet thread, with ChrissyOne mostly talking crazy stuff to herself, I’ll take advantage of this to beg you MDN, please don’t give that Farhad Manjoo’s another attempt at garbage writing a thread here.
Thank you, you may now make this post vanish.
Since this is, so far, a relatively quiet thread, with ChrissyOne mostly talking crazy stuff to herself, I’ll take advantage of this to beg you MDN, please don’t give that Farhad Manjoo’s another attempt at garbage writing a thread here.
Thank you, you may now make this post vanish.
How many times have we experienced this scenario in the history of Apple? Grit your teeth, buy some more stock and hang on for a wild ride with many more mountain peaks than valleys.
How many times have we experienced this scenario in the history of Apple? Grit your teeth, buy some more stock and hang on for a wild ride with many more mountain peaks than valleys.
I’m getting the same ad as ChrissyOne.
Was just about to check and purge the old font cache.
I’m getting the same ad as ChrissyOne.
Was just about to check and purge the old font cache.
@ krquet
I’ll respond to you now, so it will look crazy later on…
@ krquet
I’ll respond to you now, so it will look crazy later on…
Damn it. I had 1000 shares with stop sale order at exactly $275. Sold. So now gotta pay taxes on 215k gain, fortunately all shares were long term. So guess I will buy back in, keeping enough out for taxes of course. I had just moved the stop order from $250 friday.Always been nervous about Steve’s health. Oh well, could be worse I guess. Damn those rumors.
Damn it. I had 1000 shares with stop sale order at exactly $275. Sold. So now gotta pay taxes on 215k gain, fortunately all shares were long term. So guess I will buy back in, keeping enough out for taxes of course. I had just moved the stop order from $250 friday.Always been nervous about Steve’s health. Oh well, could be worse I guess. Damn those rumors.
Oh thank Jobs, what if they zapped the CrazyOne <ducks> to make me appear crazy. Phew… a close call that was…
Oh thank Jobs, what if they zapped the CrazyOne <ducks> to make me appear crazy. Phew… a close call that was…
@ HughB:
Back in the day, when communications were much slower, setting a stop loss point at which stock would be sold was prudent.
With the crazy swings we’re seeing recently, that may not be a good idea, especially for a stock that one wants to hold in anticipation of future gains.
Sure, the bottom might drop out. But if it does, you probably won’t get a sale anywhere near your stop loss point, anyway, as the market would flood with sell orders.
I’m not into day trading. I’ve had two friends who lost their shirts at that after initial periods of success.
@ HughB:
Back in the day, when communications were much slower, setting a stop loss point at which stock would be sold was prudent.
With the crazy swings we’re seeing recently, that may not be a good idea, especially for a stock that one wants to hold in anticipation of future gains.
Sure, the bottom might drop out. But if it does, you probably won’t get a sale anywhere near your stop loss point, anyway, as the market would flood with sell orders.
I’m not into day trading. I’ve had two friends who lost their shirts at that after initial periods of success.
HughB – you’d probably be better off with a stop buy on Apple than a stop sell … at least up until that one time it does head for the cellar.
HughB – you’d probably be better off with a stop buy on Apple than a stop sell … at least up until that one time it does head for the cellar.
WTF? Why anyone would give up his apple shares just because Tim was leaving (which he doesn’t). If he wanted to leave for a second class company then be my guest! I wouldn’t give up or hesitate to buy Apple stocks for that, no man is irreplaceable the apple wonder is a team work with Steve as the maestro… Just my 2 cents
WTF? Why anyone would give up his apple shares just because Tim was leaving (which he doesn’t). If he wanted to leave for a second class company then be my guest! I wouldn’t give up or hesitate to buy Apple stocks for that, no man is irreplaceable the apple wonder is a team work with Steve as the maestro… Just my 2 cents
@Chrissy One,
“I’m not, in fact, seeing ads for Lightroom. Instead I’ve been getting this all day:
ดาวน์โหลด Chrome ฟรี
เบราว์เซอร์ด้วยการออกแบบเรียบ และง่ายต่อการใช้ ดาวน์โหลดเดี๋ยว”
Its arabic …. secret terrorist code for…. imperialist dogs… we are going to bomb your site with stinky camel droppings in flaming paper bags. BEWARE!!
But first we are trying to get our 20 million out of Nigeria. Something about a sudden death and no will. You just wait imperialist dogs, cats, and you too native and non-native americans.
Just a thought
ps, its me en, hiding under this burka. : – )
@Chrissy One,
“I’m not, in fact, seeing ads for Lightroom. Instead I’ve been getting this all day:
ดาวน์โหลด Chrome ฟรี
เบราว์เซอร์ด้วยการออกแบบเรียบ และง่ายต่อการใช้ ดาวน์โหลดเดี๋ยว”
Its arabic …. secret terrorist code for…. imperialist dogs… we are going to bomb your site with stinky camel droppings in flaming paper bags. BEWARE!!
But first we are trying to get our 20 million out of Nigeria. Something about a sudden death and no will. You just wait imperialist dogs, cats, and you too native and non-native americans.
Just a thought
ps, its me en, hiding under this burka. : – )
can an AAPL Flash crash move the market? It sure moves QQQ and the NASDAQ? What does this harvesting of capital without producing jobs do for our economy?
can an AAPL Flash crash move the market? It sure moves QQQ and the NASDAQ? What does this harvesting of capital without producing jobs do for our economy?