Uh-huh. Consensus estimate, $27.01 billion, actual revenue, $27.6. Well, I suppose if you apply AAPL standards from 6-7 years ago, 2% higher than the average estimate would be considered a huge miss. :|
Why even bother? Do you really think anyone out there trades based on nonsense posted on a message board, when anyone who has the web access to see the message board can easily look up the numbers in a fraction of a minute?
The flaw in your argument: Capitalism is *not* based on profits for the few.
Capitalism is based on the principle that independent economic actors freely making economic decisions that they believe are in their personal best interest have the aggregate effect of promoting the general economic well-being more effectively than a central planning body or even individuals trying to "do the right thing" for society.
It tends to result in wide disparities in wealth among individuals, but much greater overall wealth for most people. Winston Churchill said it best: "Capitalism is the unequal distribution of wealth. Socialism is the equal distribution of poverty."
A common mistake -- made by many people on *both* ends of the current political spectrum -- is to confuse between plutocracy and capitalism. They're not the same thing. In fact, they're very much at odds with each other.
I think you should move it up even tighter. I wouldn't dare be either long or short on the market right now, but I'm long on VIX options. I think we're going to see some choppy waters in the near future. The Magic Money Elves rush in to rescue every dip, but I think the odds are in your favor betting on the VIX every time it gets knocked back down to Sleeping Beauty levels and against it every time it double-spikes.
Don't be so sure. All-out nuclear war would make it drop by 10%. Maybe even 12%.
But then it would recover to new highs within a month or two.
Actually, the way things have been going, I wouldn't be surprised at all if the S&P blows well past 10,000 in the next 5-10 years.
Nominal stock values surge during runaway inflation.
Why was the regularly scheduled daily surge right before the close cancelled today? In fact, it actually traded *down* a bit in the last few minutes, and on top of that, it has drifted down after hours instead of up, while VXX spiked a little bit after the bell instead of collapsing.
Did someone drop a nuke?
Oh, I actually did post about that in another thread. Many times today, VXX held steady while SPY was rising, and toward the end of the day it actually rose *simultaneously* with SPY. The VIX tends to trend counter SPY, but short term options on the VIX do so even more reliably. Most days, VXX moves in the opposite direction from SPY almost tick by tick. If it actually moves *with* SPY intermittently, this is a very strong signal that a reversal is coming.
Thanks for the cogent analysis. We should all consider carefully the information and solid arguments presented here.
I think you're right. VIX options climbing simultaneously with SPY? That's a rare alignment of the stars, and it's usually a strong omen.
Even more significant: look at VXX vs. SPY. Very telling.
LOL...what makes you think they'll raise rates? Because they should? Because they said so? That's funny. We've been down that road before. When the time comes, they'll just say that in light of the softening labor market and the "mixed" economic indicators, it's not a good time to raise rates or reduce QE.
But I think they need to let the market go a little right now so it can be in an uptrend in late October.
It wasn't "a terrible news day". The only *real* bad news, market-wise, was the consumer sentiment miss in the morning. Skirmishing between the former Soviet republics isn't bearish economic news, let alone a game-changer, and if it had stayed down (or returns to a significant down close) just because of that, it would be a strong indication that the "sell" switches are on a hair trigger and the clouds are gathering over this bull market.
That said, I don't know what chart xtgeminiman is reading. A bearish engulfing can't include shadows. The entire body of today's candlestick would have to engulf the entire body of yesterday's. A lot can happen between 3 and 4, but so far we don't even have a bearish piercing, let alone an engulfing.
Maybe intra-day, but it would recover and go back to green by the end of the day.
It think last weeks rise had nothing to do with news, it was a technical bounce that would happen under just about any circumstances.
As for the market being incredibly sensitive to the Ukraine-Russia conflict, that's just what I'm driving at: The market seems to be exceptionally sensitive to news reports about something that would be shrugged off in a strong bull trend. Russia fighting a former Soviet republic is hardly an Earth-shattering event that's likely to lead to a major multinational conflict, and localized foreign war is not a bearish event.
So, it appears that the market is looking for any excuse to tumble. That's why I used the word "catalyze". A catalyst is not something that causes a reaction that otherwise wouldn't happen, it's something that facilitates a reaction that would tend to happen spontaneously by its own forces. To have this kind of reaction to this kind of news is a strong indicator that the market is already primed for a downtrend and just needed a trigger or two to get started.
Instead of all of those discombobulated circumlocutions that purport to create the appearance of a pointed retort when you've got nothing, you could just *say* in plain English that you're embarrassed and wish you could find a way to save face, because that's what I read from your reply anyway. :)
But thank you for backing me up by demonstrating that jumping to conclusions is more valued than asking questions.
Well, I added to the VXX calls I started buying yesterday at about that point (when VXX was 10 cents off the low), does that count? Or do I not get to be special unless I lie and claim that I closed out my long position and opened a massive short position at the exact top like you? ;)
BTW, I've been away from this board for a while, but you sound VERY familiar. Is steven.hutchinson another name for market.kibbles?