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Nazcrack: AAPL GOOG AMZN pulling down the index

As I look at the nazcrack 100, the only significant drags are GOOG -4% (eu anti-trust probe) and AAPL -1.8%. Even though AAPL is down less than 1/2 the %amount of GOOG, it has a 2X effect in the index because it has a 4X higher weight than GOOG..

In the past months, this has been a perfect setup for an EOD jamup as momentum funds gun AAPL in the golden hour. I’m a little hesitant to go heavy long today as we just had a nice eod squeezeup yesterday. Anyway, I will take today’s close as sign on the strength (or lack of) in the momentum stocks. If the momo funds can’t jam AAPL into close, that is sign of weakness. Note that this is all shortterm trader talk. In my longterm portfolio I’m long AAPL.

http://quotes.nasdaq…100&col=6&dir=D

BIDU Baidu, Inc. $ 105.03 2.35Posted Image 2.19% 7,068,358 0.7
QCOM QUALCOMM Incorporated $ 46.88 0.40Posted Image 0.85% 9,168,542 0.85
EBAY eBay Inc. $ 29.15 1.08Posted Image 3.57% 16,572,707 1.15
AMZN Amazon.com, Inc. $ 175.70 3.79Posted Image 2.11% 4,936,701 1.23
GOOG Google Inc. $ 558.53 23.58Posted Image 4.05% 4,524,163 3.86
AAPL Apple Inc. $ 311.08 5.79Posted Image 1.83% 12,982,787 8.06

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