Watch for a Wreck in Big Tech

This market is giving us a lesson in resilience. We heard repeatedly how divergences in the transports and the small-caps were going to haunt this market, but the S&P 500 and Nasdaq Composite continue to perform. Those indices have closed near their highs for three consecutive sessions after selling off early in the day, proving that buyers are willing to step in on the dips.

I explained recently why some of those correlations may be less meaningful than they once were, but still I closed some longs last week. Despite a nearly 10% gain, I've felt a few pangs of regret at letting the iShares MSCI Japan Index (EWJ) go, as it continues to roll without me. However, regarding Google (GOOG) and Apple (AAPL), I have no regrets whatsoever. In fact, those stocks could be poised to fall further....300 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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