Dangerous to Short Here
Monday witnessed another meeting between President Obama and House Speaker John Boehner, and Apple (AAPL) was able to shrug off some of its early negativity -- which has all given the market a positive tone. However, we are faced with the same issue that the market has suffered from for two weeks now: a lack of strong momentum. While we're seeing positive action, there isn't much aggressiveness, and the market tends to drift and overreact to minor news and rumors.
I have to admit, I'm a bit annoyed that I don't have more going on today. I'm definitely not bearish -- and, as I've been saying for the past week, this is not a market to short. The potential for a spike higher on a fiscal-cliff deal is just too great for me to take a bearish stance. If you are inclined to play the short side, you should be seeking strength on the news -- which may not last for long. The market won't go straight down if the fiscal-cliff uncertainty comes to an end....80 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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