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| Apple Sticker (Photo credit: je@n) |
Drakon Capital's Guy Adami noted that the stock couldn't rally on a day the S&P and the Dow ended in positive territory.
"The game here now is does it push down to the May 18 level? My sense is that, yes, it does," he said. "It's imperative in my world that it holds, now, $520."
Brian Kelly of Shelter Harbor Capital raised the issue of a margin requirement change by COR Clearing.
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"I would say that when you start talking about margin selling, that's a deleveraging process," he said.
Kelley added that the news could lead other firms to make similar moves.
"Apple was under pressure today, but you had the overall market higher. You had Cat tractors higher," Stuart Frankel's Steve Grasso said. "There was a time where we thought if Apple was down, the market was down." ...
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