Some Late-Day Skittishness

 | Sep 16, 2013 | 4:09 PM EDT  | Comments
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Stock quotes in this article:

aapl

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sbux

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ua

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FB

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ba

You can't blame anyone for ringing the register at the end of the day. You have the violence in Washington. You have the president's polemical press conference. You have a Fed meeting coming down the pike.

So why not take something off the table? In fact, the reversals in a lot of growth stocks were pretty bitter. Starbucks (SBUX) was up a buck at one point. Under Armour (UA) got crushed. Facebook (FB) totally crumpled.

Apple (AAPL) is just horrendous.

The toughest thing about this market is how hard it is to resist. You had to, in retrospect, sell everything at the opening with the hope that you could get back in at the end of the day, and that is a lot of needle-threading.

The only groups that didn't just fold were aerospace and transports, both of which had been strong for ages now. Boeing (BA) broke out on a research note, for heaven's sake. That's the innate bullishness of this tape.

Tomorrow we will hear endless chatter about Fed tapering. So who wouldn't want to take something off ahead of that? 

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