WTF Chart Of The Day

Now the Apple-Gold relationship is just getting silly…

 

 

One recent reason suggested for this idiocy is… that since AAPL is such a hedge fund hotel and gold the ultimate store of wealth for collateral needs that the two are now inextricably linked via the leveraging/deleveraging of a thousand long-only leveraged beta chasers screaming buy-buy-buy… and needing to sell their paper gold to cover margins.

 

What was intriguing today was the AAPL move occurred perfectly as OPRA failed and within 30 minutes (as OPRA re-opened) Gold legged down perfectly in line with its edible cousin… and after-hours, that gap between AAPL and Gold has closed (with AAPL dumping to a $446 handle.

 

Chart: Bloomberg

 

(h/t @Not_Jim_Cramer)

    



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