“Apple Inc.’s stock is on track to open Wednesday with a bearish ‘death cross’ pattern hanging over it for the first time since December 2012,” Tomi Kilgore reports for MarketWatch.
“The 50-day moving average is set to open at $121.2497 on Tuesday, according to FactSet, crossing below the 200-day moving average, which is at $121.5105,” Kilgore reports. “Many chart watchers view a ‘death cross’ as marking the point where a short-term decline turns into a long-term downtrend.”
“The last time it appeared as the 200-day was declining was Sept. 23, 2008, when the stock closed at $18.12 on a split-adjusted basis,” Kilgore reports. “The stock didn’t bottom until Jan. 20, 2009 at $11.17, a decline of 38%.”
Read more in the full article here.
MacDailyNews Take: Ooh, scary. 😉
Wall Street is good at creating names for simple manipulation.
Stocks are bouncing up and down like a yoyo. Quite a few brokers are making some good money at the moment.
I just wish I had some spare money to buy more aapl stock at these low prices.
I am with you. There are people make a tons of money at this moment who buy in the morning and sale few hours later, because they have spare cash on hands.
Wall Street has mechanisms for buying stock you can’t pay for as well as selling stock you don’t own. You don’t wind up owning stock at the end of the deal, but a lot of traders seem to be collecting a lot of money along the way. You should look into that.
According to the tea leaves, AAPL should…
Ok, and WHAT does a ‘bearish death cross’ look like?
anyone got an image for that?
anything like a ‘blueberrish death yoghurt’?… or…?
…maaan.
Even worse: Death Cab for Cutie.
So, are you going to sell on dips when your stock is in a company with great earnings and growth?
Apple isn’t going to have a sales decline. Short term stock change is investor sentiment and manipulation.
See, if the wing bone points toward the wishbone, and lays on top of the thigh bone, not under it, then that’s bad. Now, if the drumstick bone is under the wishbone, but pointing away from the wing bone, well, that there is good. Just be sure you shake ’em up real good first for the most accurate results.
Tomi’s so short you need binoculars to see him.
So what do you call what happened in September 2012? I call it manipulation.
At the time of writing, AAPL is up 3.41%. It looks like the “death Cross” needs to be renamed the “Resuscitation Cross”?
The Two Cent Panic!
DIY manipulate: Short now, buy later.
These types of predictions are total voodoo. They’re looking at the graph lines and trying to see a pattern… although in the chart they show 1 previous example of the death cross leading to lower, but temporary, trending followed by an upswing. And in the second example, it leads to an immediate upswing.
So they’re making an analysis based on 2 data points that not only contradict each other, but the one that was negative later showed an upswing.
None of this matters though. The graphs as graphics aren’t providing any data about products, market conditions, global economic factors or any real data that can be used to predict future Apple earnings.
I’ve seen this death cross crap pop up before. It reminds me of the time on CNBC where some loon was trying to compare a chart of RCA in 1929 (or some time near then) with a current chart of AAPL. The inference was that the overlayed charts were identical and since RCA failed horribly at that point so, too, would AAPL fail.
Apple is doomed! It’s true! The charts say it is!! Algorithms chasing algorithms :-p
Here’s a good “debunking” of the stupid “chartists” voodoo:
http://www.schaeffersresearch.com/content/analysis/2015/08/20/apple-inc-aapl-debunking-the-death-cross-hype
The biggest problem I see is that none of this nonsense is going on with Google, Amazon, Netflix or Microsoft. Why does Apple get singled out for Wall Street hijinx. Where are all the bearish crosses for those companies I mentioned. Why does not the slowing Chinese economy also affect those stocks as well. Microsoft took a huge charge from Nokia and even though consumers are downloading Windows 10, MS isn’t getting paid for it this year but Microsoft is rolling along like nothing happened with a nice fat P/E of 28 compared to Apple’s P/E of 12.3.
Year to date, Apple has gotten totally smoked in share gains by both Amazon and Google. Even on 52 week gains Apple is looking pretty weak when compared to Amazon and there’s no real reason for Apple to be lagging like it is. I’m not making this stuff up as you can easily check for yourself. I’m only saying that Apple seems to be greatly affected by things that don’t bother other stocks. Apple is still the only major stock on the “doomed” list which the company never seems to leave behind.
I’m not complaining because I’m still doing well with my Apple dividends but things simply don’t add up to me. Amazon shouldn’t be able to hang with Apple based on revenue, profits and reserve cash but is easily beating Apple in share gains.
I’m pretty much with you on everything. One fairly plausible point I heard yesterday was that AAPL is “overbought” by institutions. The stock is already owned by so many funds that there aren’t many left to buy AAPL. NFLX and GOOG, on the other hand, are still, perversely, considered “growth” stocks because they are less owned by funds. So, basically, it’s a weird supply and demand issue.
Most of the crap happening to AAPLE is a result of the algorithms chasing algorithms (JMO, of course 😉 )
You stupid chart people will drive simple minded people crazy. What does your dickhead look like on a chart? You are sick minded manipulators.
Bullshit!
Why the Apple Death Cross Doesn’t Matter
Zacks By Panel Of Zacks Experts
http://finance.yahoo.com/news/why-apple-death-cross-doesnt-211509753.html