News Of Buffett's "Apple Buy" Turns Market Decline Into Upside Buying Panic

Scataphagos

Scataphagos

Really? That's all it takes?

We'll have to see whether or not this snaps the market out of its recent funk or is just another bearish market knee-jerk bounce.
 
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News of the Buffett's Apple buy was first announced on CNBC at 03:47 AM, and that part of the interview was repeated several times during the pre-market session. The same interview part also announced that Buffett had sold all his IBM stock, yet IBM is up 1.3% as of 2PM. I doubt that Buffett's announcement was the driving force for the market pop, but it sure helped Apple, which was up 1% pre-market while the rest of the market was down.
 
DaveV said:
News of the Buffett's Apple buy was first announced on CNBC at 03:47 AM, and that part of the interview was repeated several times during the pre-market session. The same interview part also announced that Buffett had sold all his IBM stock, yet IBM is up 1.3% as of 2PM. I doubt that Buffett's announcement was the driving force for the market pop, but it sure helped Apple, which was up 1% pre-market while the rest of the market was down.
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Well, who knows. If the news was out before the market was open, the "overnight players" had that (along with the jobs numbers) and were selling into the opening. Then, it all changed.

1st I heard of it was shortly after the market open when the market reversed the decline and took off to the upside.

Perhaps when announced "earlier, before the US market opened", the real players weren't around yet to react??

When Apple announced their "bribe" ($100B stock buy back, largest ever, the market popped like today.... then was sold into the next day.) Will this be like that?

Then again... perhaps Buffett's Apple buy had nothing to do with the pop.
 
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Anyone cares to shed some light on operations of the Exchange Stabilization Fund, as well as rumored entities charged with the job of propping up the markets?
 
DaveV said:
News of the Buffett's Apple buy was first announced on CNBC at 03:47 AM, and that part of the interview was repeated several times during the pre-market session. The same interview part also announced that Buffett had sold all his IBM stock, yet IBM is up 1.3% as of 2PM. I doubt that Buffett's announcement was the driving force for the market pop, but it sure helped Apple, which was up 1% pre-market while the rest of the market was down.
More...

I saw a bloomberg story from 11:09 pm last night. I was under the impression it was part of a CNBC presentation that aired last night at 10:00 pm. I am puzzled how Buffet can disseminate material, non public information from the 10K in a pre recorded interview with CNBC before it's release to all investors.
 
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manonfire said:
I am puzzled how Buffet can disseminate material, non public information from the 10K in a pre recorded interview with CNBC.
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Good question. I didn't notice that at the time, but now I remember the interviewer saying that it was going to become public knowledge anyway when all security holdings were disclosed at this weekend's annual Bershire meeting. I now wonder if the interviewer has spotted the same violation that you did.
 
manonfire said:
I saw a bloomberg story from 11:09 pm last night. I was under the impression it was part of a CNBC presentation that aired last night at 10:00 pm. I am puzzled how Buffet can disseminate material, non public information from the 10K in a pre recorded interview with CNBC before it's release to all investors.
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Chances are it's Bloomberg or CNBC who leaked it and it's Bloomberg or CNBC who's in violation of insider trading violation. Buffett can disseminate all he wants but if the media doesn't release it; it's as if he talked about the info. in private conversation. One is not in violation of anything if one just talks about non-public material information in private setting.
 
DaveV said:
News of the Buffett's Apple buy was first announced on CNBC at 03:47 AM, and that part of the interview was repeated several times during the pre-market session. The same interview part also announced that Buffett had sold all his IBM stock, yet IBM is up 1.3% as of 2PM. I doubt that Buffett's announcement was the driving force for the market pop, but it sure helped Apple, which was up 1% pre-market while the rest of the market was down.
More...

I think the market rally today really has more to do with the whole sleuth of earning beats that came out last night AH and also the lower unemployment rate. If you look at the earning beats, they were huge, many of them double-digit and they are all part of all 3 indices. Buffett's buying helped too as Apple has large weighting in S&P and NASDAQ as well.
 
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