FORTUNE -- Tuesday was another strange one for Apple's (AAPL) beleagued shares.
With the caveat that it's always dangerous to attribute reason to something as irrational as the stock market, this is how it looked to me:
Analysts have been been talking about this phone for weeks. Heck, they've already nicknamed it: the iPhone 5S. But there's something about a headline in the Journal that has the power to move the market, even if it doesn't manage move the story forward.
The stock ended where it started, at $429.79, up $0.88 (0.21%) for the day.
The pot may be calling the kettle black, but in this case it's richly deserved
FORTUNE -- I'd been wondering what to say about Citigroup's (C) coverage of Apple (AAPL), which took a sharp turn for the worse with the departure of its 16-year veteran analyst Richard Gardner last spring.
Not only did Citi miss Apple's run from $560 to $705 -- a six-month stretch when the bank provided no coverage at MOREPhilip Elmer-DeWitt - Dec 19, 2012 6:52 AM ET
The host of CNBC's Mad Money makes it his first pick in the "ultimate growth portfolio"
It's easy to forget, amid the boo-yahs, the bluster and the silly sound effects, that Jim Cramer (magna cum laude, Harvard 1977) is smarter than the average talking head on CNBC.
And having famously explained how, as a hedge fund manager, he could manipulate Apple's (AAPL) share price by spreading false iPhone rumors, he redeemed himself somewhat MOREPhilip Elmer-DeWitt - Apr 10, 2012 6:35 AM ET
Betting on a stock this volatile on a day like this is an exceedingly dangerous game
Trading in Apple (AAPL) was halted on July 19 last year, just before the company released its third quarter earnings report. When trading re-opened, the stock immediately jumped nearly $23 (6%). On October 18, when Apple released its fourth quarter earnings, the stock fell more than $33 (8%) in after-hours trading.
So as you can imagine, there's MOREPhilip Elmer-DeWitt - Jan 24, 2012 6:02 AM ET
When the rest of the market is tanking, the company's shares offer a relatively safe haven
On Monday, when the Dow opened down $250, Apple (AAPL) rose $11.13 (2.78%) to close at a new record $411.63. On Tuesday, Apple opened at $415.35 and hit $422.86 shortly after noon.
UPDATE: Apple closed Tuesday nearly where it started, at $413.45, up $1.82 (.44%) for the day.
To put Monday's close in perspective:
Apple shares were up MOREPhilip Elmer-DeWitt - Sep 20, 2011 7:33 AM ET
If you're looking for evidence of manipulation, Friday's close was picture-perfect
"The easiest way to think of options," wrote The Market Skeptics's Eric deCarbonnel in a prescient 2009 post, "is as a type of insurance. Investors pay a premium to protect themselves against sharp swings in the market. If these sharp swings don't happen, those selling options (option market makers) keep the premiums as profit."
"In a legitimate free market," he continues, "every MOREPhilip Elmer-DeWitt - May 15, 2011 9:32 AM ET
Jason Schwarz's "Seven Reasons the Shorts Love Apple" is an investor's must-read
"If you can keep a good stock down," writes Jason Schwarz, "then you are able to load up for the ride back up. It's like a slingshot -- the harder you pull, the more propulsion you generate."
Schwarz, an investment analyst with a knack for self promotion -- through a newsletter, an e-book, and a new hardcover -- has written MOREPhilip Elmer-DeWitt - Dec 20, 2009 6:41 AM ET
Apple fell 2.6% on Dec. 1 in an ugly close that left investors deeply suspicious
Apple had already dropped sharply twice on Tuesday -- once at 10 a.m. and again at 3:25 p.m. -- when, 12 minutes before the close, the volume of trading suddenly spiked and the stock went into freefall.
More than 3.5 million shares changed hands in a fury of last-minute trading, and when the dust cleared, Apple had MOREPhilip Elmer-DeWitt - Dec 2, 2009 1:14 PM ET
The opportunity to cash in on the iPhone's subscription accounting has mostly passed
Apple (AAPL) is scheduled to report its fiscal 2009 earnings next Monday, Oct. 19, and in the days ahead investors can expect to hear a lot about the new accounting rules that will allow Apple for the first time to book iPhone revenue when the sales occur, rather than spreading it out over eight quarters.
The effect of the MOREPhilip Elmer-DeWitt - Oct 11, 2009 8:34 AM ET
With Apple (AAPL) closing at $184.55 a share Thursday -- up 1.47% to hit a 15-month high -- it's probably time for the legion of analysts who follow the stock to start rethinking their published price targets.
The current high target, $264, was set on air Tuesday by Mad Money's Jim Cramer. But he's more showman than analyst -- even if he did trigger a 6.71 point (3.83%) rally the next MOREPhilip Elmer-DeWitt - Sep 17, 2009 9:40 AM ET
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