The Apple report was pretty good. Among other things, the company now has over 150 billion in cash. The only reason why it has so little is because it is paying dividends and has a large stock buyback. The reaction to the Apple report was typical Wall Street hysteria.
Nothing matters right now except the YEN carry trade. Everything else is meaningless. Before the EUR/USD was the key barometer, but as long as ABE can keep a weak YEN these markets will stabilize and start to climb back. Remember the stock market is the economy. AAPL: is not relevant and the focus is the banks. They have all been whacked over the last few days and will have good days today. If your short then the best hope is a reversal in the JPY/USD otherwise we go up today. Big move last night once Asia closed in JPY/USD and that was done to stoke Europe and get our futures to have a nice pop. Its rigged and we all know it.
Normally a stock like aapl, going down, would pull the market down, because some investors would sell the stock they own and buy the one that's a bargain, but aapl isn't going to do that because few investors want it.imo
This is what happens when socialists run things, as they do not want the actual going's on to be known to the public. Everything happens under the guise of this and that. I agree with what you said, but if aapl were 'allowed' to melt down the whole market. This is why they have guys like ichan as their henchmen, or others. Who buy up massive positons in the market so the hedge funds can't cause any damage when the bad news comes out. Aapl is also one of the main instruments the powers that be use to run the market up when they need it. The logic being that if we have a down day, it is always ripped hard on some bogus news to keep the ndx from crumbling, and effecting the other indexes. On the other hand, futures are used to hold things up more now than ever. Lots of these banks face problems if the market falls, so they push them up on a daily basis. This is how they have kept their jobs, and gravy train of taking money from the options traders, and paying themselves massive bonuses, through their broker, gs. How else can you have such huge amounts of exec vp's across the us who have average bonuses of millions a year? 'Compensation'. Sure isn't from loaning anyone any money, isn't it. You can also look at the huge amount of corrupt trades that go through level II. In the past trader's have lost their licenses as mm's due to some of the activity that they use on a daily basis now. These involve price fixing, pegging and others. These were outlawed in the past but are now ignored as of about a year and a half ago I have noticed. There is no way we would have gone through the old highs of 14,175 without them. They were done so as so that no one player could manipulate the price of a given stock, which is not true now it happens everyday. If anyone has complained too much, I guarantee they have been demoted or laid off, and ones who haven't complained and helped participate hired if know how or promoted.