Monday, May 21, 2012
Machines rule earth
7:44 am (Hawaii) I woke up early enough to get out of DGP at 47.74, taking a small loss (-0.46/share) on a weird open. I was totally worn out by this cold and sleep debt though, and crashed out until now. The indices are up and strangely enough, internet/social stocks started poorly and spiked after that roughly 30 minutes in. YELP, for example, sank to 16+ but rose to 20 or so.
FB is down 9% to 34.79, but it was at 33 earlier. AAPL is up 4.4$ to 553. It hit a recent low of 521+ on Friday and closed that day at 530. FAS is up 2.6% though JPM is down 2.7%.
Strange day, indeed. DGP has drifted, still red, now at 48.00. The G8 effect has been minimal, did little to help bulls or bears. gold bugs or bank haters.
Volume is weak. AAPL volume is at 15M+ shares; it was at 26M+ on Friday.
The machines are in control. Again. I suppose this is the one thing that was generally agreed upon at Camp David over the weekend. It feels like melt-up time again.