September 28, 2012

WEEKLY MARKET DIGEST: WINDOW DRESSING MOVES STOCKS AND GOLD UP

(The Weekly Digest reproduces the morning capsules made available every morning before the market open in the Real Time Feeds to the paying subscribers.)

WINDOW DRESSING MOVES STOCKS AND GOLD UP

September 28, 2012

Yesterday’s move in stocks and gold was mostly related to window dressing. Window dressing involves portfolio managers buying those assets that have done well in the quarter so that they can show their clients that they own the best performing assets. Prime beneficiaries of window dressing were GLD, SLV, and AAPL.

Increasingly window dressing happens on the day before the last day of the quarter to skirt scrutiny by regulators.… Please click here or the title below to read more.

September 28, 2012

TIM COOK IS SORRY ABOUT MAPS, APPLE SHOWS FALLIBILITY

When reports first surfaced of problems with Apple Maps, Apple bulls were sure and loud that it was only a small problem and would be fixed soon. By not issuing any real statement, Apple gave the impression that the problem was indeed going to be short-lived.

Finally there is a real statement from Apple. Tim Cook, in a letter, is not only apologizing to customers, he is also suggesting alternatives like BING from Microsoft, MapQuest by AOL, Maps from Google, or Nokia Maps. (Here is the full text of Tim Cook’s letter.)

Apple Maps’ problem is deeper than what Apple first let on as evidenced by the letter of apology and Cook’s suggestion to use alternatives.… Please click here or the title below to read more.

September 28, 2012