The second unpleasant surprise for bulls is an even worse story of eroding monopoly power. Goldman Sachs lost money for itself. I'll skip the hard-core analysis and just say that bad karma from publishing equity research that lost money for clients has finally caught up to the firm.
These two stocks are symbols of the gossamer knowledge economy as much as railroad stocks used to be bellwethers of the old-fashioned America. It's time to fold up the revival tent, bull investors, and head for defensive ground.
Full dislcosure: No positions in AAPL or GS.