Did Apple stock today suffer its own personal mini flash crash?

“Shares in Apple Computer experienced two sharp downward spikes today,” Mike Taylor reports for The New York Observer.

“The bearish Fight Club enthusiasts at Zero Hedge think Apple has experienced two mini flash crashes in one day,” Taylor reports. “Former tech CEO Karl Denninger, blogging for Seeking Alpha, sees today’s Apple action as an indication that the market is too dangerous for the retail investor: ‘Folks, this sort of crap is totally out of hand. And it’s now a daily game that’s being played by the machines, which are the only things that can react with this sort of speed, and they’re guaranteed to screw you, the average investor or trader.'”

“Meanwhile, Dow Jones Newswires attributes the move to rumors that chief operating officer and Steve Jobs’ No. 2 man Tim Cook is leaving for Hewlett-Packard. (Cook has denied that he’s leaving.) …The Financial Times takes a balanced approach, but also stops to note that viewed over 10 days, Apple’s spike downward looks much more severe than it does no the intraday chart,” Taylor reports. “Plus, there were weird spikes in other tech stocks — Research in Motion, IBM, Dell, General Electric, Oracle, Microsoft and the aforementioned Hewlett-Packard.”

Taylor reports, “Whoever’s right, and it could very well be nobody, we can be confident of one thing: Even to seasoned market observers, sudden price moves in stocks don’t always have explanations that are immediately obvious. Careful out there!”

Full article here.

MacDailyNews Take: One thing’s for sure: The morons at the SEC will be the last ones to figure out what’s going on.

44 Comments

  1. Dip day.

    Buy AAPL stocks!
    2010 = $301
    2011 = $401 period!

    There are no bad news for Apple! Think long ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
    Zero virus
    Zero debt
    $46 Billion in Cash
    Global expansion and hiring!!!!
    Great management
    High demand on current products! iPad, iPhone
    New products in the pipeline

    AAPL will pass XOM to be the number 1 company in the World in 2011 ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  2. Dip day.

    Buy AAPL stocks!
    2010 = $301
    2011 = $401 period!

    There are no bad news for Apple! Think long ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />
    Zero virus
    Zero debt
    $46 Billion in Cash
    Global expansion and hiring!!!!
    Great management
    High demand on current products! iPad, iPhone
    New products in the pipeline

    AAPL will pass XOM to be the number 1 company in the World in 2011 ” width=”19″ height=”19″ alt=”grin” style=”border:0;” />

  3. Not everything is a conspiracy. Apple has a 1.39 beta. While not an exact science – Apple had more volatility as an individual stock, than the market as a whole. Hence potentially why Apple was do volatile today. At the same time – Apple may spike on a market down day. Not everything is a conspiracy MDN.

  4. Not everything is a conspiracy. Apple has a 1.39 beta. While not an exact science – Apple had more volatility as an individual stock, than the market as a whole. Hence potentially why Apple was do volatile today. At the same time – Apple may spike on a market down day. Not everything is a conspiracy MDN.

  5. I understand that if the SEC would put the Up Tick Rule back in, this crap and many others would be stopped.

    But, as seen in other parts of the Federal Government, we don’t know who’s side they are on. But, we are sure it is not ours!

  6. I understand that if the SEC would put the Up Tick Rule back in, this crap and many others would be stopped.

    But, as seen in other parts of the Federal Government, we don’t know who’s side they are on. But, we are sure it is not ours!

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