Bonfire of the Insanities: Then there were none
Lest we forget that we are merely amusing ourselves until final collapse. For the vast majority on this planet, collapse is already de facto:
Alibaba and Forty Thousand Wall Street Thieves
The largest IPO in history was just announced. The cash proceeds from Alibaba will be ~$24 billion. The company's total valuation is ~$155 billion. The IPO date is TBD, likely Sept. 18th - 26th. Between now and then that $24 billion has to come from "somewhere". Suffice to say, for anyone with a memory longer than a coked up flea, it's bad timing for iPhoney 6.
Faceplant Redux
The largest IPO in history was just announced. The cash proceeds from Alibaba will be ~$24 billion. The company's total valuation is ~$155 billion. The IPO date is TBD, likely Sept. 18th - 26th. Between now and then that $24 billion has to come from "somewhere". Suffice to say, for anyone with a memory longer than a coked up flea, it's bad timing for iPhoney 6.
Faceplant Redux
The last massive tech IPO was Fadebook. Insiders from that company sold ~$20 billion in stock in the first 6 months. The company debuted at $45 and then tanked promptly down to $18 before being rescued by Bernankenstein and HFT bots. Apparently what people seem to forget is that as soon as the Fadebook IPO was announced, Apple started to sell off big time as "investors" aka. IPO flippers freed up $20 billion in their portfolios to make room for Facebook. Then, as soon as Facebook IPO'd, they dumped their shares into the first day pop (pocketing $45-$38) and then bought back Apple. Apple bottomed on the exact day of the Facebook IPO:
IPO Pump and Dump visualized: (Apple black, Facebook Red)
Apple bottomed on the exact day of the IPO. Why? Because hedge funds flipped their Fadebook allocation on the first day and bought back Apple:
"Everybody is cashing out (of Facebook)". You don't say...
I think we all see where I am going with this. There are now two massive catalysts for selling down the world's largest company by market cap. First, iPhone 6 comes out on Tuesday of this coming week. iPhone 5 release marked the last top in the stock. Secondly, $24 billion in Alibaba cash needs to be raised (from somewhere) in the next two weeks:
Bad Timing for iPhony 6
Apple got monkey hammered this week. I wonder why:
September 21st 2012 was the exact date of the iPhone 5 release and the date that the stock peaked:
"ETrader: Someone who loves stocks at the top and hates them at the bottom"
Etrader Bearish Sentiment Inverted w/Dow
As we see, ETraders hate stocks at the bottom (2009), but love them at tops:
DAX Death Cross Imminent (50 DMA crosses over 200 DMA):
All very amusing
