Looking Beyond Apple
Fortunately, we don't have to worry about the actual economy if we only focus on the Appleconomy. Apple (AAPL) has pulled buyers out of their slump. I still expect a bit of a fade off the highs, which I mentioned yesterday, but I'm watching the 13-day and 15-day simple moving averages at $606.45 and $603.32.
Remember, everyone found reasons to sell over the prior five days, and there are plenty of longs trapped in the $610 to $640 range, so I don't expect another rocket ship higher like we saw after the last earnings report. I'm not ready to get excited about this move yet. Earnings have been good all around, but other than today's move, reactions have not been good and there are still a few concerning notes out there, such as from Caterpillar (CAT)....385 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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