If there were any doubts that it is mainly clowns and their algorithm-driven trading programs that make stocks go up and down, check out the whoopee cushion price action in Apple following the announcement of earnings after Tuesday’s close. It took just a couple of minutes for the hysteria to climax, then another 90 for it to detumesce.  What kind of trader would even deign to participate in such foolishness?  The answer, of course, is a trader who is not human. However, the rest of us should know by now to stand back when earnings on a widely watched company like Apple are announced.

Dare we hazard a forecast for Wednesday, since the very solid earnings that were announced somehow fell short of expectations? Our take is that the analysts grossly overpaid paid to do the expecting have fallen short.  No matter. We’ll stick with a 365.80 downside target given here earlier, or 326.12 if it is decisively breached.  Accordingly, traders should position from the short side, keeping in mind that ‘camo’ entries can be sharpened to yield theoretical entry risk of less than 25 cents per round lot.  The stock’s 3-minute chart is that predictable, even if there are moments when slapstick takes a free hand.