The S&P has topped !

Has the S&P topped and headed for a sharp correction?

  • yes

    Votes: 58 30.5%

  • no

    Votes: 59 31.1%

  • I don't know / I don't care / I don't like you

    Votes: 73 38.4%
  • Total voters
    190
Quote from tivthetrader:

The last time Jobs had to take a leave aapl was trading at 85, and went down to 78 on the news. Then the stock had it unrelenting move to its current level.

I saw Steve Jobs last week on tv. Unfortunately, as I have lost my mother, two aunts, anuncle and a cousin to pancreatic cancer, I am too well versed in it. He didn't look well and todays announcement wasn't a shock. He is one of the true innovative geniuses of our time and I hope he has a swift recovery.

I don't even want to discuss the effect on the stock price or the market as aapl is such a large component of the nas and sizeable in the s&p, as it would be more than crass, but it has to have an effect and has to be taken into consideration in setting up a position.

Best wishes Steve Jobs.
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Now I do not feel so bad selling FEB calls on my long SPY positions friday :)
 
Quote from S2007S:

I thought there was a computer glitch on the nasdaq futures this morning, read the news out of apple and said that is no glitch thats actually the nasdaq selling off. Anyway I am sure there are no worries, by the time Tuesday morning rolls around the futures will be back to normal. The SPX looks to be holding on quite strong compared to the nasdaq, but I am sure they will turn the SPX futures green helping the nasdaq turn nearly unchanged by tomorrows opening.
Remember aapl makes up 20% of the ndx 100!!!!



S&P FUT
1285.5 -3.9 -0.30%
DOW FUT
11712.0 -13.0 -0.11%
NAS FUT
2291.75 -28.25 -1.22%
OIL
91.04 -0.5 -0.55%
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yes, this little drop is likely an opportunity to get long.
 
Maybe Steve Jobs cracks this rally...


Poetic almost.... Steve Jobs vs the Fed...... The markets white knights....



I have major respect for jobs, I hope all is well on his front.......
 
i consider AAPL news an important test of this bull market. AAPL is a great company but not without flaws (e.g. huge dependence on CEO's image/health). Many hot stocks are in similar situation where dangers (not necessarily the same as for AAPL) of owning them are ignored while the bull party lasts. at some point people will start wondering into what kind of promises they are invested in.
 
Guys, we're here. This is (near the) top. Short or sell now, you can't lose. And just for your amusement:

http://www.cmavision.com/market-data

Look who is #1 today! :D Wait until they tell the public about this chart on CNBC. I betcha' that when we're near the bottom of the correction they're gonna bring this out and be all doom and gloom. That's when you buy back. All righty?
 
Quote from S2007S:

+60 for the last 5 fucking hours on the DOW!!!!!!
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1. We admitted we were powerless over alcohol - that our lives had become unmanageable.

2. Came to believe that a Power greater than ourselves could restore us to sanity.

3. Made a decision to turn our will and our lives over to the care of God as we understood Him.

4. Made a searching and fearless moral inventory of ourselves.

5. Admitted to God, to ourselves and to another human being the exact nature of our wrongs.

6. Were entirely ready to have God remove all these defects of character.

7. Humbly asked Him to remove our shortcomings.

8. Made a list of all persons we had harmed, and became willing to make amends to them all.

9. Made direct amends to such people wherever possible, except when to do so would injure them or others.

10. Continued to take personal inventory and when we were wrong promptly admitted it.

11. Sought through prayer and meditation to improve our conscious contact with God as we understood Him, praying only for knowledge of His will for us and the power to carry that out.

12. Having had a spiritual awakening as the result of these steps, we tried to carry this message to alcoholics and to practice these principles in all our affairs.
 
Quote from shortie:

i consider AAPL news an important test of this bull market. AAPL is a great company but not without flaws (e.g. huge dependence on CEO's image/health). Many hot stocks are in similar situation where dangers (not necessarily the same as for AAPL) of owning them are ignored while the bull party lasts. at some point people will start wondering into what kind of promises they are invested in.
More...

I am long AAPL -- I think the P/E is still very low. It is 4% of my portfolio, so the volatility does not scare me.
 
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