What’s going on…What’s going on? WHAT…

Posted on Oct 28, 2012 by in Letters

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

 

http://stockcharts.com/h-sc/ui?s=GOOG&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=249618391

What's going on? Pretty obvious actually.  Some major players (or player) just took a major piece of risk off the table.  Of course they may have created the risk they were trying to avoid.  They took GOOG down 104 points in 15 trading days, and AAPL down 101 points in 26 days.  The chain reaction hammered the indices too.  While these were canny moves for billion dollar portfolios all it signifies is that torrential supply will drive prices down.

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