“Look at market percent of Apple. Apple stock weighs in at 19% of the NASDAQ-100 index. This isn’t an error. Now look at how much Apple dropped on May 6. I show the calculated impact that Apple alone had on the NASDAQ-100 that day. This is more than a red flag; this is a smoking gun. It could very likely be the spark that ignited the fire that brought down the house,” Waggoner writes. “Using ratio analysis on one-minute charts, [I’ll show] that NASDAQ-100 stocks likely led prices down on May 6, 2010. [I’ll then show] how Apple’s extreme market percent of the NASDAQ-100 leveraged into a significant drop in the NASDAQ-100 and probably precipitated the ‘flash crash.'”
“What I’m unable to show is why Apple dropped 23%. The SEC should immediately study the trades of Apple on May 6. If a large trader(s) precipitated the market crash on May 6, Apple was the vehicle,” Waggoner writes. “I think the confluence of economic activity, market forces, and trading functionality thesis should be moved to the back burner, and a market manipulation thesis should be moved to the front-burner in the investigation.”
Full article here.
[Thanks to MacDailyNews Reader “Snow Leopard” for the heads up.]
Yes. Yes. Yes. OK MDN?
One word is not acceptable on MDN apparently. Sorry.
Accenture stock dropped over 90% – down to a couple of pennies. This places that stock closer to the center of the “fault” than AAPL, which still retained most of its value. The biggest loser – percentage wise – is either THE starting point or close to it.
MW = usually
Figures….
Does SEC need any more pointing leads to follow?
Any investment company that doesn’t reset its automatic programmed trading system or increase human oversight to account for this kind of manipulation in the future is run by idiots.
that’s ok, i just thought you were having an orgasim.
the classics never go out of style
http://tinyurl.com/2eorc8d
Ron:
How about a picture of the creature you out into this universe where you are taking up precious time.
Ron:
How about a picture of the creature that farted you out into this universe where you are taking up precious time.
Talking about stock manipulation: could there be a fifth column infiltrated in the financial world, with the purpose of targeting AAPL?
I think Bill Gates told Steve Ballmer that he had to sell his Apple stock if he was going to still be Microsoft’s CEO. Then Bill Gates bought all the Apple shares the he got Steve to dump.
Even Bill Gates knows that Steve Ballmer isn’t the sharpest crayon in the box.
Ok, in all seriousness, Apple’s AAPL is the top total dollars traded stock on Nasdaq. It has been far ahead of the 2nd stock, PowerShares QQQ which is a group of stocks that has about 18% of AAPL in it’s holdings. So, Nasdaq falls down when Apple is pushed. Follow the money. For the big boys, it is all about Apple.
http://www.marketwatch.com/tools/marketsummary/screener.asp?exchange=15&view=7&lookup=Look+Up
I think MDN should ban ron… unless ron *is* MDN?? buh-buh-baaaa!
The smartest thing Facebook ever did was not go public.
Mutual funds, stocks and any worthless paper the banks conjure up are all BS. Pay down your debts and save for retirement later.
It’s really a shame the banks didn’t collapse. We really need those bastards taken down and the financial system rebuilt.
btw the SEC was too busy watching Porn.
I wish I was joking about this, but it’s unfortunately true.
fifth column.
By the time everyone figures out the fifth column, Apple will be out with the fourth leg and lift it to pee on all that comes close.
breeze – good name for you. A little wind, or the result of a little wind. You are a little uncouth also.
What percentage of the Nasdaq or Dow Jones does Accenture comprise?