AAPL getting rotten to the core?

3:34 am (Hawaii) Of course not. If you held from 95 (I didn't) or 214 (I didn't), then this reshuffling of the Nasdaq 100 won't worry you a bit. After all, even with shares down 1% to 337.66, AAPL is well within its trading range (326 to 365). It's the doldrums, for sure, with earnings reports weeks away and no catalyst to the upside in sight. I'm not about to dive into a huge position blindly here, but perspective is always handy.

The market has opened and 70% of my watch list is red. That's almost as extreme as it ever gets. EWJ was at the very bottom, so something's not going so well in Japan. Then GOOG took its place, down 1.9%, which is odd since the reshuffling of the Nasdaq 100 should benefit GOOG (and INTC and MSFT).

Silver's massive move up continued yesterday, as Turd Ferguson had prognosticated. But he also noted that 39 or 40 would be a ceiling. He said so in his latest video. PAAS, PHYS, SLW, all down in this early morning.

So what's working? CSTR is up 3%. WNR, the magic potion winner of Le Fly, is up again, now 18.62 (+0.9%). LULU and NFLX are up, too, which tells me that the bubble lives, at least for a few more minutes. Never a great sign when LULU and NFLX are among the winners. Toppy top top!

APC, F, VXX are up, which is interesting. So is EXK, so not all silver plays are tanking. This is a good morning to stay tuned in, relax in the upper deck, pick up the binoculars and wonder how such a great environment turned into the worst Final Four final in a generation. (And a mosh pit of a trading session.)