A perfect example of why investors should not bottom guess!
After the close, Apple gave weaker than expected guidance for the coming year, and the stock gets pummeled, down $15 to 140. That means off the $200+ high, Apple is now off 30%.
The Dow futures are swinging around wildly — down 410 — 263
– 52 as I type this. Its still early, and I expect these to
bounce around quite a bit until they settle in.
No worries — the Fed can cut another 75 bips again tomorrow…