Thursday, February 10, 2011

Meanwhile in a Phony Stock Market Controlled by Bernank, AAPL Flash-Crashes Intraday

Here's the intraday chart of Apple (AAPL). Just gradually drifting after all-time high of $360, the stock suddenly flash-crashed.

From Fortune:

Something happened to Apple's (AAPL) share price Thursday afternoon that has investors still scratching their heads.

The stock, which had been sailing along near its all-time high of $360 a share, started to drop at about 1 p.m. Then, at 1:39, it collapsed, falling from $355 to $349 in the space of four minutes.

..."The selling is not normal just for negative news," wrote Bullish Cross' Andy Zaky in an e-mail. "There was a huge spike where dollars were being skipped in the selling. I saw Apple tick from $351.70 to $349.00 within seconds. There's something else. The selling was not normal. That's for sure. It wasn't orderly. Take a look for yourself."

The Fortune article cites rumors that Steve Jobs is back in the hospital, but according to this Wall Street Journal article, he seems to be just fine.

'Ts the bots, algo bots...


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