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To: Return to Sender who wrote (808)4/10/2012 1:15:42 PM
From: The Ox  Read Replies (1) | Respond to of 8288
 
Its been a while since we had a 5 day drop. We saw a 70 point decline in December and almost a 120 point drop in November. Today's low was over a 60 point drop from the recent high and done in less than 5 days. Most of these types of corrections run in the 5 to 7 days ranges, not that they can't last longer.

This one appears a bit orchestrated to scare people out of the market right before we get earnings releases but the reasons or timing really doesn't matter to me but it reminds me of the tanking in September, right before last October earnings.

It's important, imo, to keep in mind that AAPL has been running to new highs so the S+P would a lot lower these past few days if it was correcting along with most everything else. Volume has picked up substantially today, certainly in the past 2 hours or so.

Today looks more like a bear raid, gap down, run it up into the green and then reverse down hard.

EDIT- the bear raid does seem likely, a perfect short cover/reverse and go long setup before earnings. Then pump and dump by the end of the month.

Am I too cynical? <giggle>

EDIT 2- the new low while I was typing had us nearly 90 points below the recent highs...