Two Ways To Play: Apple Losing Its Luster? Terry Woo Dec 17, 2008 8:45 am |
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The Big Apple
Apple (AAPL) CEO Steve Jobs won’t be delivering the keynote address at the Macworld tradeshow next month, reviving concerns over the state of his health. After appearing gaunt at a product launch last summer, his condition has been frequently called into question.
The company also said 2009 will be the last year it attends the event; apparently it's only a “minor” way of reaching customers. The announcement doesn’t necessarily mean Jobs is sick, but according to Reuters, some see it as an indication there are a lack of blockbuster products coming down the pike.
Apple shares are lower by almost 4% this morning.
From the Bull Pen: Apple is trading below its 20 DMA this morning. Bulls can look to reenter this stock on a trade near the $89-$90 level. Sell stops can be set 2 points from entry.
From the Bear Cave: Bears can look to Research In Motion (RIMM). The $40 level is proving to be significant resistance for this stock. A buy stop can be set above that mark on downside attempts. Quick Check Around the World
Asian trading closed with the Hang Seng 2.18%, Nikkei 0.52%, Sensex -2.62%, Taiwan 0.67% and Shanghai 0.09%.
Glancing towards Europe, we see the CAC -0.67%, DAX -0.51%, FTSE 0.10%
As of 8:15 a.m. EST, S&P futures are trading -13 to 899, and Nasdaq futures are -13 to 1228.
A Look At Commodities
Crude oil is trading -0.19 to 43.41. Gold is +11.8 to 853.50. Silver is +0.085 to 10.674, and copper is +5.650 to 141.10.
The dollar index is -0.411 to 80.277.
On the Radar
Economics
07:00 MBA Mortgage Applications
07:00 Bloomberg Global Confidence
08:30 Current Account Balance
Click here for the full trading radar.
Good luck today!
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