and today's "power lunch" contributor is jim iuorio. jim, i'm going to start with you, if i could. how do you feel about apple? i'm starting with you really because the rebound in the stock, everybody's talking about it down here. what do you make of that? >> as a company i feel great about apple but i have to push that aside because we're talking about the stock price here. even if we correctly identified why apple was trading lower for the last couple weeks, as strictly a tax thing, that doesn't mean that that reason can't morph into something else. think of it this way. we talk about the stock market and say because this market is underinvested in lack of participation, it wouldn't have a wave to push lower into very bear market trend. well apple is the opposite of that. apple has a o ton of people in it a long time, racked up a lot of capital gains. i still think once this finds somewhat of a base there is a reason to buy it towards the end of the year when tax selling is done. but i think it should be on the radar screen. if it settled below 50 $$504, w is a long way away, i'd

jim iuorio, director of tjm institutional services joins me now. talk about apple. research firm idc says apple will lose some tablet share. in addition, core clearing in margin requirements from and toll 60. then there is a death cross of some thing -- >> don't put too much weight in it. idc said they'd lose this much market share in the tablet market which is exploding. i don't think it is a big deal. the apple story begins and ends with people taking capital gains taxes before they could potentially go up. what stock has had more loyal people in it longer and acued more potential as capital gains than andle? almost none in my opinion. that's what it is. a margin requirement change? that's a derivative. >> you think it is not a fundamental business issue, it is a technical tax issue. >> amen, brother. >> citigroup going to cut 11,000 jobs, 4% of its workforce. shares of the bank right now moving higher there by 6%. what do you think of citi? >> the market likes someone who's willing to admit they had a bad trade and stop out of it. citigroup is moving out of place

jim iuorio is a cnbc contributor. >> i've been looking at this from every ang toll fiangle to find a tradable sort of angle. here's the one possibility that i have. even regular dividend payers sometimes when the x difficult tend date comes they adjust to the downside more so than the dividend even was. to me it seems like it is almost worth being short these special dividend payers into the x dividend day. i'm not because it seems dangerous to me. >> jim, we'll be back with you shortly. >>> now to bertha coombs with a "market flash." >> watching shares of aol. the "wall street journal" naming some unnamed sources say that its chief marketing officer will be parting ways with the company. what's interesting, she was just named to that position back on july 17th of this year. she would be the fourth marketing -- top marketing aol communications to leave the post this year. sue? >> thank you, bertha. >>> positive news on the home front when it comes to foreclosure foreclosures. which states are doing the best and how might the fiscal cliff hurt that recovery? >>> plus we may have an ai

. >>> jim iuorio, how should you play those job numbers of earlier today? >> first of all, i look at these numbers from a lot of different angles. i don't see anything we can characterize as just more than okay bordering on good. you look at the unemployment rate, that number by itself is largely useless unless you take it in context with the participation rate which was not very good. what i expect will happen now is next week we have the fed who is going to reassure of its commitment to keeping rates low. i don't think money is going to bounce far out the risk spectrum. i think money will tip toe out risk spectrum and largely end up in companies like coca-cola, johnson & johnson that represent some stability to people and some yield when you get 1.5% and change in the 10-year. that's where i think the sweet spot is. i'm sure some money will jump out -- >> those who perhaps have a better appetite for risk. but not everybody does going into the end of the year. speaking of dividends and capital gains, apple once again down another 3%. >> speaking of risk. >

jim iuorio, you have a bold prediction here. >> it is going to be crazy. >> go ahead. >> i think it is going to get cold again. >> it's going to get coal! >> we've been selling natural gas for a couple weeks just based on the weather patterns. and i get that. but it is going to get cold again. we use natural gas. to me seems like a nice place to pick it up. >> jim iuorio, it's going to get cold, he says. that's it for us, sue. >>> "street signs" begins right now. ♪ come on baby ♪ don't fear the reaper ♪ baby take my hand >> don't fear the reaper. but how about the fiscal cliff? we're going to show you the real impact on americans' wallets and some stats to make you go -- hmm. apple slammed but the dow doesn't care. the indexes are higher as some break-away republicans are giving investors hope that a deal will get done. but will apple win the online music battle? >>> why pandora is being boxed out today. >>>ed unintended consequences of all these one-time dividends. mandy's off today so let's welcome in courtney reagan. >> thank you very much, brian. >>> blue chips are ruling the roost

let's bring in our pal, jim iuor iuorio. you know, jim, it's turning out to be a very good year and it's turning out to be a very good year on a global basis. >> no doubt about it. but let's break it down. japan's stock market has rallied huge because of promise of liquidity injections and doveishness. the same thing can be said for europe and for the u.s. around the globe, everyone's squeezing interest rates and forcing money to seek yield wherever it can. it could have followthrough in japan. europe has run kind of far -- the market has chosen to believe that europe's problems are somewhat behind us. i don't really share that philosophy. but i think this move is interesting. >> but the european financial risk fear indicators look great. in fact, these financial indicators look great worldwide. i agree with you trat central banks are greasing the wheels. but in a very gloomy world, a very gloomy psychology where the worst case becomes the most talked-about case, at some point don't the markets send an impressive message -- a

for more on the day let's get to jim iuorio director of t.m. and a cnbc contributor. i guess the reason i phrase the question, jim, the markets had been sort of quiet, the vix has been kind of quiet, as well. is something on the horizon, or i mean we've talked about it so much, is there anyone that doesn't know? >> no. i just think the markets have grown accustomed to the notion that we're actually going over the cliff. we were always going over the cliff, and that gives the republicans ground cover to lower taxes, and not raise them. is it a game? is it ridiculous that they play this with the economic future of the country? of course it is. but you drew the connection to t.a.r.p. that's when we first learned that they can show some incompetence at very critical moments. the market's fine with that right now. but i do think the consensus is that once they reach a deal, even after the cliff, that the market's going to knee-jerk higher. when everyone is on the same side of the boat that worries me a little bit. i increased some short in the marke