Stick With Apple And Its Three Amigos
Source: blogs.forbes.com - Monday, September 17, 2012
Stocks are a bit soft Monday as the oscillator hit pretty extreme overbought levels on Friday. This type of reading gives more active traders the opportunity to trade around positions to create some alpha in their accounts. Some forget that we’ve had a 100 handle move in the S&P 500 before Thursday’s QE-inspired move. The S&P 500 peaked at 1474 and settled off the highs. Most indices produced some type of doji or hammer bar to give active traders a signal that some type of rest is due. Some traders will perhaps look like a “cute” short. Some upper level support stands at 1458-1462. If we above this it will create another high level flag, keeping shorts trapped and the speed of the rally fast. Bigger support comes in around 1452, which represents the 50% area of last Thursday’s igniting bar. I would be a bit surprised if market goes much lower than this support area. Major support sits at 1438-1442, which was prior resistance that should serve as major support. That area also is home to the 8-day moving average. Buying dips and staying with this move should be more profitable than just looking for cute short set-ups. The action in leading high-beta stocks remain impressive. The four amigos (that you are probably sick of me talking about if you’re not in them) have acted very well. Apple (AAPL) the stock took off in the last 30 minutes of the product announcement day and hasn’t stopped since. The $683-$687 area is now important supRomney: 'Victims' comment not elegantly stated
Source: seattletimes.com - Tuesday, September 18, 2012
Republican Mitt Romney is trying to head off a new distraction for his campaign after a video surfaced showing him telling wealthy donors that 47 percent of all Americans "believe they are victims" entitled to help from the government that permeates their lives.
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