AAPL 6 month daily chart
50-day MA is the rope of hope
Saved by the banksters:
Safe to say Goldman Sachs saved
NFLX's ass from a 4-6% drop today
Banksters got NFLX's back
Silver and gold ... not so much backup
Can't fight them banksters (JP Morgan naked shorters)!
Update, 8:49 pm (Hawaii). AAPL clinging, clinging, clinging to that 50-day moving average. I say clinging with just one finger on that cliff. But if NFLX can be spared downward flight with an upgrade from Goldman Sachs (target $300) — in the midst of a colossal disaster in Japan that wrecked markets globally — imagine what an upgrade for AAPL would do. Guess here is that GS and a lot of fund managers are collecting all the shares they can with their bony, falcon claws before those upgrades arrive. And they will arrive sometime. Just a matter of when.
Update, 10:27 pm (Hawaii). As I catch up on tonight's news and blogs, it strikes me more and more that the one-sided, all-or-nothing hardheads who keep pumping precious metals are getting annoying and scary. Turd Ferguson is an huge exception. His balanced view, albeit pro-PMs, is one of the few voices in the PM blogosphere that I can relate to. He cautions. He empathizes. He prays for the victims in Japan. He keeps a vigilant watch on silver and gold. He expects surges and pullbacks. He is an exception. Many of the other metal bugs barely, if at all, mention Japan. It's ridiculous and insane how that is possible. If gold and/or silver is dropping, can it all be blamed on Blythe Masters and JP Morgan? Really? Isn't there a horrific nuclear fail going on in the third largest economy on Earth?
I'm not saying that intelligent bloggers are ignoring the facts. But this is the danger of an all-in mentality when it comes to blogging. It happened here with silver and gold. It happened a few years back with DNDN (Dendreon). I'm sure it happened a thousand other times before and will happen again a thousand times more. Just switch out the device and use the same formula: us against the world, good versus evil, smart versus corrupt. I have no doubt there is fricking evil in the marketplace, but is it anybody else's fault that so many people are undiversified and/or refuse to sell their bleeding, 100% position in an overbought, hyped-up issue?
I've been through those battles and lost too many. That's why it annoys me to see the one-sidedness of so many blogs written by otherwise smart people. When the mantra completely ignores global catastrophes and pounds away with "buybuybuy!" I get skeptical instantly. Just hoping most people had the sense to be nimble on their feet when it came to trumpeted "guaranteed winners."
Greed is not good.
AP: New reactor fire stokes fears as Japan struggles with crisis (Mar 16 2011)
Business Week: Bahrain clears protestors from rallying point after GCC support (Mar 16 2011)
Zero Hedge: Radiation in Ibaraki rises to 300x normal (Mar 16 2011)
James Dines: It's the End Game now (Mar 15 2011)
iBankCoin: Fly: Bearish (Mar 15 2011)
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