Tuesday, May 25, 2010

Artificially inseminated?

Something feels not right about this rally. I must be a damned conspiracy theorist gone stupid, but AAPL's run from 238.50 at 2 pm Eastern to 246.76 with about 15 minutes left before the bell is feeling very skittish. Like jumping on thin ice.

I slept good this morning (Hawaii time), having given AAPL a stiff-arm at 239 much earlier today, only to wake up seeing shares at 244 and climbing toward the close. The late rush seems unusual, a $7-plus barrage by bulls ... or was it the quants? If it was the HFT guys, it would make complete sense, since AAPL has pulled back to 244 almost as quickly.

Feelings are shit in this (or any) market, I know. But this felt wobby and fake. I'm glad I didn't buy into it at this level, but really, I should've stuck my toes in there at 239, even with a tiny position. I've gotten too defensive for my own good.

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