This picture caught my attention though. I was reminded of the failure of Britain's Northern.Rock. When I saw stockbrokers and fund managers queueing up at the Moorgate branch I thought "That's a bank run!". By informed depositors! In the City! Yikes!
From Barron's Tech Trader Daily:
Apple: All Through the Night for the New iPad or Cash Money
After gapping above $600 yesterday the stock is back down to $581,13.At midnight Thursday, outside Apple’s ( AAPL) flagship store on 5th Avenue and 59th Street in Manhattan, there were around 130 to 140 people camped out, many under various forms of tarps or other shelter, waiting for Apple’s newest iPad.
There had been a light drizzle earlier in the night, and it felt fairly chilly at 45 degrees. Many were huddled under tarps and blankets of one sort or another.
Two gentlemen and the top of the line were sleeping in folding chairs.
Third in line, standing in what appeared to be pajama bottoms and a down jacket, with a Lakers cap on, was Amanda, who has been waiting since Wednesday morning at Apple’s store for her chance at an iPad. Or, rather, someone else’s chance. Amanda told me she is adopted and was hoping to sell her spot to raise money for a trip to Peru to be united with her birth parents....MUCH MORE
The bottom of the gap is at $568.