Tuesday, October 19, 2010

Tuesday Bloodbath

This is what happens when $AAPL only sells 4.2 million iPads instead of 4.8 million. Someone has to pay.

And since Apple makes up about 94% of the market, it doesn't really matter what any of the other companies are doing. Heck, if those companies knew what's best for them (and their pension funds), they would be using any and all profits to buy iPads.

Okay, I'm hiding my bitterness under that smirk, as my Black Box told me to sell last week and I didn't. Lol.

But I'm fine with that. My experience is that the stock market will confirm any mechanical signal. And what's more important than today is what happens next? Is today just a one day wonder, or are buyers spooked? After all, the biggest moves tend to be counter to the overall trend.

But this does feel like a pin shoved into the meat of the balloon. There are gains to be protected, and we shall see if folks buy the dip or run to safety.

Have you tried the Justin.tv app for your iPhone? Just sayin'... CNBC to go.

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