Sentiment Is Getting Ultra Bearish and The Market Says Microsoft Made A Mistake

Bearish sentiment on the StockTwits S&P 500 $SPY stream is now at 76%. This is one of its highest levels ever. It’s also quite a change over the last one month and demonstrates how fickle the market’s attitude can be:


Microsoft ($MSFT) acquired Nokia’s ($NOK) devices & services business for $7 billion. Microsoft fell 4.5% to $31 on the news. This translates into a $15 billion loss in market cap. We saw several great posts on this:

– Microsoft spent more on Skype.

Here’s why Microsoft is buying Nokia

Oh what a difference a week makes

– Some analysts think ValueAct had no idea about the Nokia acquisition

– Several big names were heavily short Nokia

Meanwhile Microsoft’s favorite rival, Apple ($AAPL), sent out its September conference invites. This
is how Apple performed in 2010, 2011, and 2012 on the day of its invites and conferences:

Screen Shot 2013-09-03 at 4.35.21 PM


RIP Ronald Coase: Here are two tributes, one from Jeffrey Carter and another from Eddy Elfenbein.

Labor Day look back:  There are 101 million Americans either out of work or not in the labor force and labor is losing.

The keys to September: Here is the Fed’s POMO schedule for all of September. September has historically been the most volatile month on recordHere’s an economic calendar showing all of the key events happening this week.


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