This can't be good for the ESG funds.
Microsoft is down $5.72 -2.37%
Amazon is down $43.41 -1.34%
Google is down $15.77 -0.75%
Apple is down $2.25 -1.74%
Markets: "There's something wrong with our bloody ships today, Chatfield"
Comment of Admiral Beatty to his Flag Captain at the battle of Jutland after HMS Queen Mary blew up, 31 May 1916. It was the second of his ships to be destroyed in 25 minutes:
16:00 hrs-16:05 hrs, Indefatigable explodes leaving two survivors.
16:25 hrs, Queen Mary disintegrates, twenty survive.2200 of his sailors vaporized.Admiral Beatty was a bit of a dimwit so he was, of course, promoted, appointed First Sea Lord and granted an Earldom.
Today's action is not quite as dramatic as our September 15, 2008 usage of the quote but still, what is going on?
Tim Knight at Slope of Hope had a post on Apple a few days ago:
Peelings
Only a few days ago, I wrote of Apple “As the world’s largest company, I would say that Apple is a very important canary which is worth watching closely. Take note of two things about recent activity: (1) its bullish breakout has completely flopped (2) it is even breaking below its supporting trendline of the right triangle pattern.” When I wrote those words, AAPL had just barely breached its trendline. It is clear that this modest violation presaged a clear-cut failure.
It is not that this particular stock represents some kind of great opportunity in itself, but that, as the world’s largest company, it is an important component of this little farce we’ve all been playing over the past twelve years. The more crucial failure, which hasn’t happened yet, is the overall QQQ...
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Not so a-peeling.
