What do all the above companies have in common? Well, for one they were all wallstreet darlings at one point. All have broke trend, but all have had what most would consider great earnings. Google missed wallstreet’s estimates by 1 cent today and subsequently dropped like a rock after hours. yes you can blame investor skittishness on the economic downturn, but i blame the media and the school of fish mentality. They beat shit (their opinion) down our throats every single day with sensationalism on the most non sensational occurrences, this is exactly what scared everyone into selling these otherwise financially strong companies like scared fish. Its like smacking the side of an aquarium, the fish go NUTS and scatter, really for no reason they are not being harmed, (the only reason they scatter is because we hit the tank( consider the media the hand) once they realize this they will come back out to play. I believe this is what the market will do by summer, we will realize a lot of overreaction occurred because of oversaturation of the financial media opinion's disseminated across all forms of news instilling a false perception of the TRUE US economic state.

LADIES AND GENTLEMAN, google has missed earnings. the cash cow ATM machine is not churning out the bucks. Goog has broken its long term trend, look for it to drop to 450 area in the short term. The downturn in the economy and tightening of consumer spending likely caused goog customers to cut back advertising budgets. GOOG has dropped 25% from its highs in the 700's they only missed by 1 c a share. earnings came in at $4.43 per share, narrowly missing Wall Street's expectations of $4.44 a share.

I am blogging from cheeseburger in paradise here in Evansville Indiana, and the service is of course terrible. Im sorry Jimmy but i think you have expanded to fast and forgot about the island charm that drew you too margaritaville. Why has service in so many chain restraunts become so terrible, WHY DO WE PUT UP WITH IT. They do have cold beer, but think the waitstaff was hired straight out of the hills of kentucky! pssh. ON a positive note, they do have very nice absorbant napkins to wipe up the spinach artichoke dip i just puked all over the counter.

I know this is a very rough and primative formation but we could be bottoming and looking for a beak-out..

Many of you might have seen this chart on Fast Money a few days ago, i think it is worth showing again. Goog has exbited very healthy trading techincally speaking. Good has followed its trendline since IPO, on JAN 23 goog bounced off this and rocketed back up like POGO stick. very solid play, and profitable trade. Keep you eyes open for opportunities like this.

Today was a bit of a sellers market, albeit we are down 171 PPS on the DOW i still believe this is healthy trading. If you look back to the DOW chart i posted yesterday you can see that i pointed out the dow was approaching resistance at 12475. This resistance was met today @ 12480, OK OK i was 5 $ off but my point was made. If you look at this 5 minute chart you can see the dow charged up in the opening to this point then retreated,to the close where support held on the 200 SMA. What does this mean you might ask? i believe this means their are still people with weak hands and or retail traders taking profits on all the MARKET GAP FADES opportunities that made a few people rich!

The markets rally was nice today, on the other hand it pushed a lot of stocks into overbought conditions after the late day powerful rally. AAPL GS the dow COULD turn here. I have a few charts i have annotated, the include APPLE, GOLDMAN SACHS and the DJI. I think WE could be forming a round bottom here in the markets, a new support... we shall see.

I was away from the computer most of the day today unfortunately, everything seems to happen when i am gone! Today was another day of volatility, gapping down in the open then charting up to positive 298 points. YOu might ask is the selling over? i think the there are still people out there who do not know if this is the bottom and may continue to sell. BUT we do not chart up 500 points for the hell of it, investor sentiment is changing for the positive a bit.

I do think the fed cut the rates to soon PLACING a band aid on our market's gaping wound. SACK IT UP AND DIVE, WE NEED TO GET HURT. As a child we learn from getting hurt, we must do the same in the markets. Bernanke resign please.

God speed. Drugs kills folks. AMY WINEHOUSE STOP SMOKING CRACK>

The markets were trading like loose air hose today, Volatility index this morning SPIKED to 37. Looks as if AAPL is entering buy territory. 145 is a good target, 120 is the NEXT major SUPPORT LEVEL.. i will post a chart in a few minutes. AFTERHOURS APPL has fallen to 139 at the moment. I believe the capituation point will be 120, once we arrive here we will start trending upwards again correction out positive trend. Read more Apples forcast below wallstreet targets here.

Trading on the dow is getting pretty tight. looking for a breakout here soon. DOWNSIDE i believe?

AAPL exibiting very tight trading, the bid/ask spread is non existant. its rally is tapering off now around noon. pull up a 1 min candle and you got almost no volatility, i think we will slide until earnings after the bell.

Ladies and gentleman Federal chairmen Ben Bernake has cut the fed funds rate by 3/4 point. This was done in reaction to the overnight futures that are still at this moment down over 430 Points. THE buzz on the street is, "THIS BETTER WORK". I have a feeling we are still in for the lowest opening in a lot of years. FED FUND RATES SITS AT 3.5%. I hope all readers realize the gravity of this situation.

TRADE ALERT!!!!!!
GS - gapping down pre market at 4:15 down to 183
GOOG- down to 575 pre market!!!!!
AAPL - 140 pre market !!!

The appl chart is a 60 min candle chart. A solid downward channel has formed as AAPL PingPong'ed downward. Look for AAPL to crush through 147 in the AM tomorrow.
The DOW Chart is showing a FIB grid with correction trend lines. Our next SUPPORT level on the DOW is 11200. GOD SPEED.

Hang Seng ( Hong Kong) down 1900+ 8%, Nikkei down 700+ 5%, Australia down 7% , Shanghai down 5%+ , India down 7%, Taiwan down 6.5%. Asia meltdown worse than last night.

Latest search terms which directed users to my site are 25 clicks from search term "market crash" and 10 were from "futures". This obviously shows investor worry and doubt.