Might finally hit a real bear market.
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It has cracked 2 major support levels today, 3 if we're being technical (pun intended). Could this be the bottom? Yes. No. Maybe? But there's a saying about trying to catch a falling knife. Next support level is between $138-$140. If $138 cracks, the next level of support is ~$123.
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It moved into a Bearish confirmation. :-)
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Damn, Apple is my core investment. Not selling though, it's only a paper loss.
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S&P must hit about 3840 for a bear market? About 2.5% from here?
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AAPL is an interesting 1-minute chart to watch right now. Keeps trying to crack $146 but dip-buyers are bouncing it. Tug-of-war going on. If $146 cracks it's going to take out a lot of stop-losses, all the dip-buyers will be out, and it will speed up to the downside.
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I would think Apple is the largest holding in mutual funds/ institutions across the board.
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$146 stop-losses just got taken out. Now we'll see if the HFT algos start buying and reverse it, or if it fades to $140.
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Grabbed some AAPL 5/13 $140 puts for 52¢ right here just for fun.

Not much of a closing bounce even though tons of shorts were likely covering.

I think it tests $140 tomorrow, but if I'm wrong my position is small enough not to matter. Risking a couple hundred to potentially make a couple thousand.
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A bad US administration is enough to topple it.
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Prepare thy anus, more hemorrhaging on the way
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Sadly, there is a lot more pain to come.......

This sucks and gonna get worse.
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Just sold those AAPL 5/13 $140 Puts I posted about yesterday at $2.20. Only had 5 at 52¢, so paid $260 and sold for $1,100. Not too shabby for about ten minutes of actual market time.
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Nice trade.

I had (2) APPL $150 puts I bought earlier in the week for $1.22. I sold them way too early. :-)
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What did you sell them at? They hit $9.80 for a second this morning, around $9 now.
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