All You Need Is Churn
The market is holding up well following solid jobs numbers and a better-than-expect ISM services report, but random and poor action in Apple (AAPL) is keeping things suppressed. Small-caps continue to perform well, which is why breadth is running almost 2 to 1 positive on the Nasdaq. Biotechnology, oil, solar, builders and bulk shipping are leading while gold, silver, chips and coal lag.
After the run of the past few days, churning action is exactly what we need. Stocks need to consolidate and let the flippers exit. Many fund managers refuse to chase, and action like this allows them to inch in and give stocks better support....109 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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