Stocks reverse lower; Apple plunges below support

“Stocks were lower midday Friday after turning tail in the first session of 2015,” Andrew Edwards reports for Investor’s Business Daily.

“The Nasdaq fell 0.7%, the S&P 500 lost 0.3% and the Dow Jones industrial average slipped 0.1%. Volume was tracking well above Wednesday’s levels in the stock market today,” Edwards reports. “The Russell 2000 slumped 1.2% as small caps took the hardest hit.”

Edwards reports, “Two out of three stocks from the IBD 50 were lower. Apple dropped 2% in heavy trading, falling further below potential support at its 50-day moving average.”

Read more in the full article here.


  1. Hmmm, three hours ago MDN has a story about AAPL “rising” today after price target increase and now AAPL is “plunging below support” Pffft… And people want to “occupy” this?

    1. Not sure of your point. Markets have always gone up and down. Analysts and pundits will define the reasons for those moves post facto, as always, while still being unable to predict the future with any regularity (otherwise they would be the multi-billionaires). Same old story. I don’t think that a New Year’s downturn after an extended rally is that unusual.

  2. Plunging… plunging! Yes, someone get the plunger. The toilet’s clogged. Let’s unclog the toilet from all the analysts and news media pundits clogging it.


    I hope Apple is buying back the stock hand over fist while all the stupid fund managers are covering their losses on Priceline, Netflix and Amazon.

    1. I completely agree. At this price the stock is a cheap game show bargain. If the buyback program continues they should be purchasing as much as possible near these current levels before the stock reaches $200 sometime in 2015.

      If they suspend the buyback program or do not extend it then they will probably announce a major acquisition deal within a few months. They won’t repeat the same financial and strategic mismanagement mistakes as they did in late 2012 to mid-2013 and let the company/stock languish in the ether. That episode hurt business, nearly cost TC his job and almost permanently tarnashid the brand.

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