No bear yet.. just resting here.. still at top.
Market still got lots of hungry buyers coming in this month who felt left out last month and buying even small dips.

Probably won't see Sell in May... maybe have to delay till June. 

It could be.. but it is now just a minor pull back. Support still at 428-430. I think the late comers will come in and buy there.

So, far we got a nice 6 trading days pull back here. 

today's the day for a dip with most of the not encouraging European data, it would be double whammy if the PPI is not so good as well.

Lol...the European stock rises, they are confident ECB will pump in more money  .

Support broke for AAPL @ 50 ma, all out PUTs to ride this down.. exiting at 425.xx level for quick scalp!  Hee haw.. 
Down baby down! 

Yes, those machines have algorithms programmed to recognize the key moving averages and once they broke, they get the "SELL" signal and flush down the toilet.  Whooshh!! 

The consolidation price action of 350-360 was heavily defended back between Aug and Oct of 2011. Before we get down to there, the late comers will probably buy at 380-400 level giving it some support.

In order to get there, the general market also have to pull back, not just AAPL. 

Overnight, there was the analyst who cited that AAPL could get to $240 based on his 50% ROIC model..
most bearish I have  ever seen. 

AAPL bouncing back with bargain hunters stepping in at 420.
Very close to stop for AAPL short mark 433. 

Watching AAPL CEO (T.Cook) testify to US congressional committee to answer questions on how/why they manage to escape
the burden of tax by using off shore tax haven. 

No resolution but just fact finding by those slowpokes in Washington.

It is nothing really illegal but they are taking advantage of the avoidance to pay hefty tax (35%) by not repatriating their massive cash earnings and leaving it with their oversea corp (AOI in Ireland) so that they can re-invest back into their oversea stores.
Also, as they already acted, they would rather BORROW money at 2% interest and for share buy back and dividends than pay hefty tax on CASH that they already have to repatriate back to US.

Not AAPL doing it but others like GOOG, MSFT, GE, CSCO and other multinational also doing the same thing.
The problem is really the US corporate tax code to be blamed. 

Well, if you're a CEO of one of the biggest public company in US and invited to testify in front of congress, you better show up
otherwise something bad could spew up because you don't want to hide anything. 

AAPL testimony did nothing to hurt them but infact just highlight more shortcomings in US corporate tax laws which they are trying to change to favor more investment and growth. Right now, US taxes the companies (up to 35%) on profits (and if they bring it back), that's why a lot of multinationals prefer to keep them overseas. Furthermore, they don't buy US treasury eventho it is safe because the interest is too low. AAPL could have pay up to 25 bln more in taxes if they bring back the profits but they keep it off shore in a "stateless" with no tax residency.  AAPL got some pretty smart accountants. 

I think the US govt did ask Jobs to testify when he was still alive and CEO but it wasn't about tax issue. It was about privacy data collection by the iPhone after it was in the market for some time. Some users were concerned about how AAPL was collecting users info.

Anyway, yeah their corp tax rate was quite high and I think US congress is going to change that to match up with other OECD countries like 15-20%.  AAPL is asking for single digit tax rate (less than 10%). Aiyo.. where can? If US govt can cut 10-15% off the corp tax, I think a lot of companies will be quite happy but whether it will simulate more investment and job growth or not, that's a wait and see game.

Woo hoo! Ka ching.. Dow filled that gap and went Green. My exit.. DIA 153. 

Now, let's go back down..for another ride. 

I'm not touching FB here. Got trailed out 27.. 10 trading sessions ago.
Better wait till FB get back above 25, or just simply short it if it bounces back to up to 24.50 to play bear.