From the Wall Street Journal’s “Stock Futures Drop in Volatile Trading” posted early Tuesday:
U.S. stock futures fell, putting the S&P 500 on track to flirt with bear market territory again…
On Monday, major U.S. indexes rallied, giving investors some breathing room after a volatile trading session the previous week. But by Tuesday, negative sentiment returned to the markets. Asian indexes broadly fell, weighed down by losses among technology stocks. European markets also traded lower.
Snap’s shares fell 28% premarket, following a profit warning on Monday, during which the company noted that the macroeconomic environment has deteriorated more than anticipated. Its losses rippled to other technology stocks, with Meta Platforms down 6.4% before the opening bell and Google-parent Alphabet down 4%. Advanced Micro Devices lost 2%.
Investors are confronting a range of signals as they try to map out the trajectory of the U.S. economy. Many have grown worried that the Federal Reserve’s plans for monetary tightening to tamp down inflation could tip the economy into a recession. That has been among the catalysts for the U.S. stock market’s brutal year, which has sent the S&P 500 falling 17% from its January high, based on Monday’s close…
Later Tuesday, investors will receive new commentary from Fed Chairman Jerome Powell, who will give remarks at an economic summit in Las Vegas. Investors will be looking for fresh clues about his outlook for inflation, the economy and the path of interest-rate increases.
Charts: Yahoo!Finance sees a commodity-channel-index pattern. Max pain moves down to $141 with a call mountain at $165.
Yawn. Same ol’ same ol’. Make a few bucks profit, sell, buy at the “bottom”, rinse, repeat. For tens of millions of shares all told. But. Apple and friends (like Buffett) have billions of shares, and they keep buying and NOT selling. And that cadre of “traders” just keeps shrinking while the cadre of long term holders just keeps getting bigger. Because we’re on to their game. First Apple tumbled to it, and then Buffett, and now everyone else.
I just keep watching that Magical Shrinking Volume, now a fifth of what it was a decade ago, when Apple started its buybacks. Meanwhile, Apple has barely removed 40% of its float. What happens when it finally removes 50%? What kind of volume will we see pushing the stock around then?
That’s a good concept. I prefer to hold last share. 🙂
With Apple’s war chest of $105 Billion for buybacks, coupled with Warren who has even more cash available and no buyback restrictions, this is the “Perfect Storm” at the moment. I’m looking out nine months at which time this current opportunity will have turned out to be quite the opportunity for those that KNOW Apple and what it will be bringing in the future.
Upvoted!