Right here on this board I told the guy who used to pump Apple it had size and growth problem and should decline from $585 because the warning shots had been fired. I also said it was not a short even though it should decline. From $585 it went to $705 where it was clearly being distributed.
I also posted on the Apple Board about that distribution and at $695 they had likely seen the high or very close at $705. I didn't say it but I knew a pop with a good market for another few bucks possible because of the history.
The race to $705 was done on light volume and in my opinion by two bots trading with each other. All they need is more chasing than exiting and they make money.
Now manipulation has always been around but the biggest company in the world being manipulated says the various hedgies can manipulate anything.
My opinion is that poor programming is a part of the culprit because firms invest and never sell unless they stock "does something wrong" i.e. declines a certain percentage. Also way too many bots are obviously keyed to the DOW intraday. The DOW used to get little attention from real institutional investors, now day after day it drags other indices green.
Bottom line is low volume pumping of 5 or 6 stocks can cause an overall market rise on what should be a neutral day and since institutions don't sell unless triggered the same could be true for decline.
A large institution absolutely hammered AAPL from$ $672 to $660 getting out before it topped, large volume, selling all day. They were obviously "old school" investing and did not let computers do their thinking or hedgies tell them what to think.
Once the decline hits a certain point and the machines pile in, look out below. That may happen next week or three years form now. The market is not as over-valued as in 1999, not even close. The surge at the end of the day yesterday was a manipulation of futures to exit AAPL.