Intel Sparks Market Crash After Hours
All three major indices tanked today, with the NASDAQ closing down 2.45% to 2417, the DOW closing down 2.17% to 12501, and the S&P 500 finishing down 2.49% to 1380. If you think that is bad though guess again, because Intel’s missed earnings after hours has the whole market selling in a frenzy.
A few names to throw at you after hours:
- Google (GOOG). The stock closed today at $637.65, and after hours is trading at a real time last of $625.50.
- Apple (AAPL) closed today at $169.04, and after hours sits at $163.50.
- Baidu.com (BIDU) closed today at $318.20, and after hours is down all the way to $307.55.
- First Solar (FSLR) closed today at $204.79, and after hours has tumbled to $198.50.
Most of the above stocks were already down 5 - 9% on the day, which makes this sell off unexpected as a late afternoon rally did occur but quickly fizzled out.
Intel (INTC) had great earnings but missed estimates and as a result the stock sold off heavily. Live after hours Intel stock is trading at $19.56 after closing the day at $22.69. This is a 15%+ damper on the day. Intel was trading above $26 a share at the end of December, 2007.
Heading into tomorrow expect the market to open with a strong gap to the downside. I would predict the indices are set to test August support levels, for example the NASDAQ should easily move below 2400.
For the active trader though this is should be a great opportunity to make some easy money intraday if you catch some of these leaders at depressed levels. Just watch your technicals and be prepared for anything.
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Should be a wild day tomorrow, we might get a emergency cut soon.
Look out below tomorrow morning! It will get very ugly in a hurry tomorrow morning with carnage all over the tech space. What I’m interested to see is if the market then rebounds into the close at all or if it closes near the lows.
The crash is coming. Can’t you just smell the excitement in the air.
25 points 50 points 100 points?
Cry Havoc and let slip the dogs of war
Yeah it looks like it’s shaping up to be an ugly day tomorrow. NAZ and semis could be in for a world of hurt. QID and short NAV maybe?