AAPL Update

Not that AAPL is the only stock to trade, but with 20% weight on the NASDAQ 100, it alone can move the market and we do have the I-Phone 5 coming out tomorrow, it's more of a 5th average for the purpose of this post.

For newer members, to give you some idea of AAPL's weight which is a NASDAQ proprietary formula that you can receive with a $10,000 a year subscription, if you took approximately the bottom 50 NASDAQ weighted stocks and added AAPL to create the NASDAQ 51 and all 50 stocks other than AAPL were down 2% on the day and AAPL was up 3% on the day, despite 50 of 51 stocks being down 2%, the NASDAQ 51 would close up and in the green.

It's kind of silly that 1 stock has so much power to move the market, but that is the situation and one of the reasons AAPL has long been a favorite of the Wall Street Primary Dealers who made billions of dollars from the F_E_D with virtually no risk, so long as they took the profits from flipping bonds to the F_E_D in POMO operations and bought up the most heavily weighted stocks to mov the market up, even when a majority of stocks were moving down.

 AAPL 1 min is still building, it doesn't look like a failed move.

As is the 5 min chart.

If we go much beyond the 5 min timeframe, there isn't much that is inspiring about AAPL. Perhaps the I-phone 5 disappoints or is just a sell the news event. At this time, I wouldn't take any action on new AAPL positions.