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Monday, August 29, 2011

Thursday, August 25, 2011

Steve Jobs’s Resignation Letter to Apple

On August 23, 2011 after the stock market closed, Steve Jobs resigned as CEO of Apple (Apple charts and Quote) Inc. Apple's stock close Aug. 23 at $376.18. The next day, Apple stock opened at $365.08, down 2.95%.  Below is the Steve Job's letter to Apples board of directors. (Source Apple Press Info)
August 24, 2011
Letter from Steve Jobs

To the Apple Board of Directors and the Apple Community:
I have always said if there ever came a day when I could no longer meet my duties and expectations as Apple’s CEO, I would be the first to let you know. Unfortunately, that day has come.

I hereby resign as CEO of Apple. I would like to serve, if the Board sees fit, as Chairman of the Board, director and Apple employee.

As far as my successor goes, I strongly recommend that we execute our succession plan and name Tim Cook as CEO of Apple.

I believe Apple’s brightest and most innovative days are ahead of it. And I look forward to watching and contributing to its success in a new role.

I have made some of the best friends of my life at Apple, and I thank you all for the many years of being able to work alongside you.

Here is a chart showing the performance of Apple's stock year-to-date. 
click chart for full size image 
I'd like to wish Steve Jobs the best of luck in his new, reduced roll at Apple and hope his health improves so he can enjoy and long and happy life.

Tuesday, August 23, 2011

East Coast 5.9 Quake Details - Bush's Fault

Flash News. President Obama says the shaking on the East Coast today is Bush's FAULT!
(A little California humor I thought of myself!)
Globe with Earthquake Location


Preliminary Earthquake Report
Magnitude 5.9 Mw

  • 23 Aug 2011 17:51:04 UTC
  • 23 Aug 2011 13:51:04 near epicenter
  • 23 Aug 2011 09:51:04 standard time in your timezone
Location 37.881N 77.952W
Depth 0 km
  • 14 km (9 miles) SSW (195 degrees) of Mineral, VA
  • 17 km (10 miles) SSE (165 degrees) of Louisa, VA
  • 23 km (14 miles) NE (52 degrees) of Columbia, VA
  • 58 km (36 miles) NW (312 degrees) of Richmond, VA
  • 141 km (88 miles) SW (216 degrees) of Washington, DC
Location Uncertainty Horizontal: 2.3 km; Vertical 3.1 km

Nph = 23; Dmin = 50.0 km; Rmss = 0.44 seconds; Gp = 79°

M-type = Mw; Version = B
Event ID SE 082311a ***This event supersedes event USc0005ild.

For updates, maps, and technical information, see:
Event Page
USGS Earthquake Hazards Program

Southeast US Seismic Network
U.S. Geological Survey
University of Memphis

Sunday, August 21, 2011

ECRI Can Not Rule Out 2012 Recession

In this July 29, 2011 video interview ECRI's (The Economic Cycle Research Institute) Lakshman Achuthan says the business cycle slowdown they predicted while others were calling for a second half recovery "persists through year-end.”   
ECRI has not called for a recession but we do have a slowdown that makes the market more susceptible to a shock that can push the economy into a recession. Thus, they cannot rule out a 2012 recession.
Click to order
Book: Beating The Business Cycle

Thursday, August 04, 2011

2011 Intraday "Correction" Statistics 08/04/11

Make sure you check out my:
S&P500 Data - More S&P500 Charts

Last Market High 05/02/11 at 1,370.58
Last Market low 08/04/11 at 1,199.54
Current S&P500 Price =  1,200.07
Decline in Points = 170.51
Decline in percent = 12.4%
Max Decline = 12.5% 
Since the decline in the S&P500 is less than 20% and the 50-DMA is still above the 200-DMA, it is still officially a correction in a bull market.
  • This means the decline from intraday high to intraday low is 12.5% and we are currently 12.4% off the peak.
  • The decline in the S&P500 from the closing high to the closing low was 12.0% 
Comments welcome on my facebook discussion group "Investing for the Long Term"

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