Profit-Taking Kicks In
The bulls have done a nice job of delaying it, but some profit-taking is starting to kick in now. Apple (AAPL) is what's leading the action, and now that the selling has started to kick in there, it is spreading to the broader market.
Breadth is just mildly negative so far, but the reversal of the positive early action is giving the market a negative tone. As I discussed in my opening post, there are just too many stocks that are extended and not offering very good entry points right now. Apple is probably the most obvious example....164 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.
Already a Subscriber? Please login.