Thursday, June 12, 2008

His Jobness is about to sneeze...

Sell! Sell! Sell!

Never seen before in the history of mankind, as Apple's stock dropped 5% today following another hefty fall yesterday, purely on speculation on Steve Jobs' health risks.

I have to admit, his WWDC appearance looked especially bizarre. I thought he lost a lot more weight compared to the last time we saw him and his face looked like... an AIDS patient... often seen in terminal cancer cases as well. I believe in his case though, it must be the vegetarian stuff he eats that messes up his looks and makes him lose weight. He seemed to have lost some indeed and... Phil Schiller found it; good ol' Phil looks more and more like the Woz: getting ready to explode!

Anyways, all this is a great reason for short-sellers' speculating the worse and the share dropping almost 10 bucks in intraday trading today. I believe Apple must have lost the best part of ten billion dollars in market cap during the last couple of sessions. Can you just get this?

So, who's benefiting from it? Simple answer: the short-selling sobs... those who buy puts for a couple of cents and want to see them turn into a few dollars at which point they collect their hefty profits. Or those who sell short and cover when the price drops. And the bleeding computers that generate massively loss-stop orders once the ball starts rolling downhill.

BTW, El Jobso is about to fart... start selling again!

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