Apple, Amazon Down: Maybe The Stock Market Is Rigged
What kind of topsy-turvy world do we live in where heroes are cast as villains, brave men as cowards?
-- George Costanza, Seinfeld, Episode No. 84NEW YORK (TheStreet) -- I understand -- emotion, a hysterical media and clueless Wall Street analysts dictate what happens with the stock market, but we've come to a point of unacceptable obscenity. Seriously, if my kid said the F-word while we were fixing a flat on the side of the road, she would get a pass before this market craziness.
So very topsy-turvy.
Apple (AAPL) can't get legs because, as TheStreet's Chris Ciaccia Tweeted, "Apple down another 1% today. This doesn't change until Q1 earnings change perceptions (if it does)." And, instead of continuing its run and busting out above $260, Amazon.com (AMZN) tanked harder Wednesday, down $9.99 (just to throw off bargain-hunting bulls), or 3.9%, to $248.63.
Who knows what will happen the rest of the week? And who cares? It doesn't matter. None of this inanity matters. Or at least it shouldn't matter.
Allow me to lay out some data -- from the rigorously measured to anecdote -- that's lost on bears who question Apple and Amazon's holiday quarters.