- random late-day action,
- three stocks with limited European exposure, and
- Apple and Google leading the way in tech.
Every Day We Start From Scratch Originally published on Tuesday, Oct. 21, at 6:16 p.m. EDT Gutted, gaffed and left for road kill. Isn't that what happened today? Horrible close, just horrible, and you have to wonder whether Apple ( AAPL), which truly reported a magnificent number, can turn the tide. Maybe it helps that Yahoo! ( YHOO) is at last flexible? I hope if they get a bid for double the share price, Bill Miller from Legg Mason doesn't try to kibosh it! Then again, who knows from session to session? Each day has its own drummer, and we seem to start from scratch at the opening bell. What went wrong today? Hard to tell. The Goldman pension piece scared the heck out of people, and it certainly weighed on a bunch of stocks. The auto news, continually terrible, doesn't seem to help. But for the most part, I think it was just that last-hour nonsense that I have been saying is wrecking this market and turning it into a casino without rules or regulations. It was heartening, however, to read the Rev's comments in the Columnist Conversation that the closes have netted out. I learned my lesson from last Friday when we were up 300 and gave back 400 in a matter of minutes that you can no longer even rely on intraday direction for closing direction, something that had been pretty much a given until very recently. And relying only on an overbought market to make work is simply not bankable.