Futures before opening Bell
DOW - 239
SP500 -24
NAS -108.75
Improved since earlier session lows.
Oil $47.39 Heading back uo for now
Headline is Iraq Oil exports jump
o7
For Warren Buffett, sinking Apple shares a wish come true
(Reuters) - Billionaire Warren Buffett has said he would love to see Apple Inc shares decline in price so he could buy more. He is getting his wish.
Apple's warning on Wednesday about weak iPhone demand in the holiday quarter due to slower sales in China sent its stock down 7.5 percent during after-hours trading. Class B shares of Buffett's Berkshire Hathaway Inc traded down 2 percent in the same session on Wall Street.
Buffett, the folksy Nebraska investor known more for buying railroads, energy firms and classic American corporate brands than for his acumen picking tech stocks, in recent years has lamented missing the boat on buying shares in U.S. technology giants. He admitted an earlier investment in IBM Corp was not one of his best.
Yet Buffett has made Apple a centerpiece of his portfolio of other company's stocks, touting his own use of the Cupertino, California-based company's products and saying at his annual shareholders' meeting in Omaha last May, "We would love to see Apple go down in price," so he could buy more at a bargain.
Buffett sees Apple more as a consumer stock than a tech stock, reflecting the iPhone's status as a must-have possession for so many people.
Including its after-hours drop on Wednesday, Apple's stock market value has tumbled to below $700 billion from over $1.1 trillion at its peak in October. Although Apple has fallen behind Amazon.com Inc and Microsoft Corp in value, it remains one of Wall Street's most widely held companies.
Shares of Berkshire itself have held up well even as the broader market sank last quarter. Last year, Berkshire returned 2.8 percent, while the S&P 500 fell 4.4 percent, including reinvested dividends.
But the $3 billion hit to Berkshire's Apple shares in evening trading on Wednesday could show in future reported earnings. Those figures do not reflect any long-term gains on Berkshire's investments, and Buffett has encouraged investors to ignore the profit statistic mandated by U.S. accounting practices.
https://finance.yahoo.com/news/warren-buffett-sinking-apple-shares-030046694.html
Go ahead 'warren' back up the truck!
Getting his advice from Mr. 'buy stops' freddy
Apple Inc. (AAPL)
NasdaqGS - NasdaqGS Real Time Price. Currency in USD
Add to watchlist
157.92+0.18 (+0.11%)
At close: January 2 4:00PM EST
Premarket
144.18 -13.74 (-8.70%)
Dow Jones Industrial Average (^DJI)
DJI - DJI Real Time Price. Currency in USD
23,135.86-210.38 (-0.90%)
opening print
NASDAQ Composite (^IXIC)
Nasdaq GIDS - Nasdaq GIDS Delayed Price.
6,599.30-66.63 (-1.00%)
Apple Inc. (AAPL)
NasdaqGS - NasdaqGS Real Time Price.
144.31-13.61 (-8.62%)
3 min in
Clearing out the sellers first as dumb ones sell the open. In normal conditions, not normal imo, this is the herd mentality to sell it and walk away. System knows this
Pumped up before opening here. Coming down now on decent volume.
Think they know something?
They do
then take it out and park it in cash.
Most telegraphed market dump ever. Warned late last year about QE ending.
Don't be that 'guy'
Decreasing volume is clearing out sellers.
Watch for it to try to be taken up from here. momo traders will pounce on it if it starts to turn as well as shorts covering a hold overnight.
Dow Jones Industrial Average (^DJI)
DJI - DJI Real Time Price. Currency in USD
22,894.80-451.44 (-1.93%)
or not!
Apple Inc. (AAPL)
NasdaqGS - NasdaqGS Real Time Price.
143.59 -14.24 (-9.01%)
As of 10:05AM EST. Market open.
Selling accelerating
Nothing to see here….
Don't wait..get it
Batten down the hatches anons. This getting FUGLY. On-balance volume is all selling.
Small pause and bounce. But heading down again
Data is VERY slow so have zero idea how far behind I am.
Dow Jones Industrial Average (^DJI)
DJI - DJI Real Time Price. Currency in USD
22,803.65-542.59 (-2.32%)
One trick the system applies is 'self-help'.
The exchanges intentionally slow down everyone under the guise of 'issues'. Of course it never happens on an up day.
What is Self-Help (Alert)
A self-help alert is a notification, issued by a trading exchange such as the NYSE or NASDAQ, that a glitch has occurred on one of the exchanges and that the exchange should be temporarily bypassed to permit the regular flow of orders. A self-help order, for example, could be issued by the NASDAQ if the NYSE had experienced a problem and needed to halt trading on any or all of its stocks. The alert would be canceled when the NYSE resolved its problems.
https://www.investopedia.com/terms/s/self-help.asp
Never trust ANYONE with your money
Most 'professionals' are not even in the office before market opens.
Two offices in this building have Edward Jones and some 'wealth' mgmt firm.
They have had ass handed to them over the last few months. Lights still off in one and only one person in the other.
They are amateurs and do not care about you. Just having your $ on the books.
Munchkins needs to step up here and most likely will. If not we could start seeing individual stocks being halted on a 10% drop. That is a daisy-chain type of thing. Not good
o7
doing the market stuff requires constant looking around. do not take it personally if I do not answer questions.
I cannot tell you what to do so don't ask.
You need to do what is right for you.
No one can tell you that.
o7
AAPL is bad and is closing in on being halted at -10%
the rest are not too bad relative to AAPL.
Financial adviser's are like real estate agents. Take a test and you are one.
They do not teach you anything about market mechanics and money flow.
But it sounds good on a biz card.
btw whoever did this yesterday..many thanks!
Another t-shirt to be made!
For sure. I could post tons of noisy charts here but that would not help anyone…
The KISS principle
A good starting place is stockcharts.com
I can still read charts from anywhere though.
This is going to be halted if they enforce the rules. On the cliff now