They didn't distinguish between much today, did they? You could pretty much have made a killing shorting everything last night at the bell except for Apple (AAPL) and PayPal (PYPL) , the former because of its amazing sell-through at Sprint (S) and T-Mobile (TMUS) , but the latter, who the heck knows? (Apple and PayPal are part of TheStreet's Action Alerts PLUS portfolio.)
I'm a little stunned that there was no impact at all from the iPhone sales. You are talking about the biggest company on Earth enjoying what could be a very big product cycle largely because of the processing power and storage -- great for all the new apps, especially gaming -- especially if you don't own the iPhone 6.
Today was one of those days where it seems like everyone just gave up on every thesis: housing, oil, consumer spending, industrial, you name it.
You could say the headline for the day was rates went up and stocks went down. I prefer to say the market shouldn't have gone up so much yesterday and it is time to recognize that we've had a good run and we're a bit in no man's land. Almost every stock I hit up seems to have broken down -- see Bruce Kamich's stuff if you want to know what I am talking about.
We're waiting with cash for Action Alerts PLUS. Not twiddling our thumbs. Just studying and waiting ... for better prices -- which, at this pace, could be shortly.