- $AAPL - Apple reports earnings → CRASH!
Apple just posted results that didn’t exactly impress Wall Street, and the tech stock is selling off pretty significantly. In after-hours trading Monday, the stock shed more than 5%, and AAPL stock should open Tuesday down about the same.
- That will probably have an early impact tomorrow. But the growth rate at the fruit company has slowed. Everyone has a smart phone, right? Is there a reason to upgrade? Are there other, larger screen options? What’s next?
- The Dodgers signed Chone Figgins. That’ll about lock it up. World Champs 2014.
- So the market edged up. Then sold off. Then reversed. Then the reversal reversed and down the market went. Not healthy. Financials sold. Techs sold. Leaders sold. Utilities and telecom up. Not good.
- Heading to end of month – rally time?
- One of the things on The Twitter was how bullish folks became on the reverse up. Buy buy buy! Normally, I’d agree and thought about buying too. I didn’t buy.
- Was it China? Was it Turkey? Well, some say it was the Fed. This is Bernanke’s last one as the head Fed. So the topic of tapering has folks wondering what’s next considering the lackluster economic data and corporate earnings. And poor housing starts. And unemployment.
- President Obama gives the big speech tomorrow night, and supposedly it will highlight “income inequality.” I will probably watch, but I will be sure NOT to drink any chocolate milk, lest it come shooting through my nose as I listen to the talking points.
- If I were making a market prediction, and I like do to that often, I would say that once we bottom, we rally back up to retest previous highs, and then the summer Sell in May time will be here. That’s my first (of many) guesses to come in 2014. My similar prediction in 2013 was about as productive as Chone Figgins was in 2013.