The Quarter Shuffles to a Close
This feels more like an apathetic week rather than a weak week. Perhaps we can put them together and call it an apathetic weak. I don't think anyone is looking to be a hero on the last day of the quarter. Sure, all the tape-painting and portfolio window dressing is complete, but some managers are more apt to sell or hedge here to lock in gains as we close the quarter.
The weakness in Apple (AAPL) is catching the most attention today, but that shouldn't come as a surprise. I see today's action influenced by weekly options pushing us down to the $600 level for a nice pin. I'm looking more specifically toward the 13-day simple moving average at $601.20, as we should finish close to here -- that's why I think $600 becomes our pin area....262 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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