The snasdaq dropped 3% yesterday and today people plow into AAPL to the tune of $5 - the "animal spirits" are clearly alive and well - todays move in AAPL is due to positive analyst comments - that trick again. And one of my old favorite darkmatter names, AIG, is now $6 dollars off its lows....all this manic behavior for a company that at the current time is insolvent. Stupid.
I shorted a little AAPL today - a tiny position b/c with that one at any time Steve Jobs may compe up with a game changer.
The SPUZ look tired to me, they have held up pretty well since this morning but they look like they wanna roll over.
I would imagine this weekend we will get some clarity on CIT's future - I think this is important news.
JB
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