NDX and to certain extend SPX are held up by AAPL, GOOG, etc. several high flyers at the end of last year. Thus that run up is nothing but hot air only. New leaders must be found for the next bottom.
As of 12/31/2008, AAPL was the biggest component of the NDX. Just shy of 10% of the index. http://www.cboe.com/products/IndexComponents.aspx?DIR=OPIndexComp&FILE=nas100.doc
Apple resumes trading; stock drops over $8 to $77.00 in after hours (85.33 -2.38) Apple CEO Jobs announces medical leave of absence until the end of June Apple CEO Steve Jobs today sent the following email to all Apple employees: "Team, I am sure all of you saw my letter last week sharing something very personal with the Apple community. Unfortunately, the curiosity over my personal health continues to be a distraction not only for me and my family, but everyone else at Apple as well. In addition, during the past week I have learned that my health-related issues are more complex than I originally thought. In order to take myself out of the limelight and focus on my health, and to allow everyone at Apple to focus on delivering extraordinary products, I have decided to take a medical leave of absence until the end of June. I have asked Tim Cook to be responsible for Apple's day to day operations, and I know he and the rest of the executive management team will do a great job. As CEO, I plan to remain involved in major strategic decisions while I am out. Our board of directors fully supports this plan." (Stock is halted)
In the whole scheme of things who gives a crap about apple? They make neat gadgets and make a lot of money doing it. Do they really do anything important for society aside from creating "wants" that people can't afford? Companies like apple aren't going to lead this market up. Companies like JEC and CAT will. If the market tanks because of this pompous ass i'm all in long because its meaningless.
It's not like we didn't already know that Jobs was ill. Is that really such a earth-shattering news that warrants a major selloff? How silly can you get? Oh, okay, so we will use any excuse to push this market off the cliff. Why didntcha just say so? Geez...
You should ask yourlself - Who cares a crap about your opinion about Apple & Jobs? Not many in the market because the market sells APPL and drives the Futures down and also QQQQ. The market cares, and that is what is important, whether it is AAPL, Jobs, Gates, MS etc The fact is the market makes a mockery of anyone who thinks his or her opinion should matter. Lose the ego, no one cares about any particular individual opinion.