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  • techmangenius techmangenius Feb 15, 2013 4:38 PM Flag

    Technical selloff to take out most options

    should rebound nicely tuesday

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    • Let's be honest. There was no POMO (Fed money) to play the scalping scam as aggressively. If you look at the 1 minute chart, you can see both AAPL and WMT being used as a source of funds in the absence of POMO...

      If I were at FMR and saw my AAPL position lose $8B gross and $5B net of selling (mainly for CapWorld to protect this scam), I'd be pretty PO'd. Not to mention all of the long short hedge funds who were long AAPL and squeezed by the move....

    • Maybe. But longs here are playing with fire. Unlike most companies, there nothing here to support the valuation. Plenty of economic stress in the real world that will hit equities within a few months. Those that exit now will have a higher average selling price because protection can get expensive in a hurry and once everyone realizes it is time to sell, there will be no buyers. Capital World only has 3.5MM more AAPL shares to sell to prop this up. It already sold 5MM in the act of tanking AAPL to leverage rebalancing to dump more of this scam onto retail via index ETFs. Adding more at this point will be VERY tough to explain by the next earnings report (all retail metrics declining -- inventory turns, ROIC, net income and GM wasn't materially higher than the rest of 2012, current ratio barely 1 after the debt offering heading into a weakening consumer environment...).

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