If you were looking for cheaper laptops out of the Apple (AAPL: sentiment, chart, options) product launch presentation this afternoon, you were sorely disappointed. Sure, Steve Jobs announced that Apple's entry-point MacBook would receive a $99 haircut to $999 each, but the majority of the company's laptop offerings rose in price. It's as if in the middle of an economic recession, Apple's response is "Let them eat cake." Furthermore, those rumors of iPhone-esque touch screens were also left at the doorstep. Instead, as Silicon Alley Insider reports, "if you're looking for innovations in Apple's refreshed laptop line, you're going to have look under the hood, where there are new chipsets, etc."

While AAPL shares trended lower throughout the morning following a spike above $115 per share on the open, the stock's decline picked up momentum shortly following the start of the 1:00 p.m. presentation. The disappointment, or "sell on the news" reaction, is palpable heading into the close this afternoon, as AAPL has dipped nearly 4% as it pulls back to potential short-term support in the 105 region. Should the selling pressure grow as the week drags on, we could easily see the stock testing psychological support in the 100 region by Friday or early next week.