I love this market. Dow actually falls because of a bent i-phone rumor. Ha! It just gives me plenty of reason to want to enter the market. This is the article in marketwatch that talks about Apple tendency to bent under stress put a dent on its launch.
It was also reported that durable goods results did not perform up to expectations.
Few points from me on today:
1) Apple stock price won't be affected by this rumor of a perhaps easier bent phone. Today actually gives me more reason to own this stock. People will still buy the iphone. Apple phones are good because of its stability over Android phones and brand!
I always say buy into this stock when it drops 10%. There is a new product launch coming up in December. The I-watch expectation will push the stock up towards christmas season. I know it has not been a 10% drop from the high of $103. But where else can you get a discount? Today on the rumor. Perhaps only today.
2) The market is blinded by the poor august durable goods results. It was reported that orders for durable U.S. goods plunged a record 18.2% in August after a record 22.5% gain in July, mainly because of volatile demand for airplanes.
Durable goods results are normally very good in September, which is next month because of increasing preparation of holiday season. Durable goods is a survey on the raw material preparation by companies. Not good this month is normal.
No factor of a selldown for me..
Having said that, I believe today's selldown has no reason. What I am interested to know is whether the overall earnings results are good for October. That will be the determining factor whether 4th quarter is good.
Not Apple i-phone rumor or Durable Goods.
I think the stock market has a chance to rebound from today's selldown.
Let us focus on a more REAL reason for a selldown please, MR MARKET!