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The Simple Accountant
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Harry Fotopoulos, "the Simple Accountant" is a twenty+ year veteran of corporate accounting and finance, much of it in manufacturing, but also including a stint with a tech startup. Harry manages two separate portfolios, one focused on current income, the other on total return. A... More
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  • The Apple Effect Bites 0 comments
    Jan 24, 2013 2:37 PM | about stocks: SPY, IVV, VOO

    So we finally have the eagerly awaited Apple earnings report...and it wasn't good. The shares are off nearly 12% as of this writing, pulling down the SPX, which briefly topped 1,500 this morning. What is interesting is that the Russell 2000, which does not include Apple, has shown a similar intraday trading pattern after topping a round number level of its own at 900.

    We'll see how this plays out through the afternoon, but at this point it has the look of a reversal day. That hardly comes as a surprise; I have been publicly anticipating the possibility of an imminent correction in my Seeking Alpha weekly articles.

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: SPY, IVV, VOO
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