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Two Ways: Apple, Jobs Ripe for Developers Conference


Strengthen your portfolio in good times and bad.

Apple Conference Next Week

Steve Jobs' return to Apple (AAPL) after a few months of medical leave appears to be on track, and it comes at an opportune time. The company's annual Worldwide Developers Conference begins in San Francisco on Monday, and as usual, expectations are sky-high.

According to the New York Times, analysts think Apple must continue to innovate to maintain its "cool" factor above its peers. And competition appears to be catching up as Google (GOOG), Microsoft (MSFT), Nokia (NOK), Research In Motion (RIMM) and even Palm (PALM) are all at varying stages of developing and introducing their own iPhone-like device. The company is expected to present new types of programs for the iPhone's latest operating system next week. But software can be boring, so analysts speculate that Apple could surprise its investors with a new model next week.

For a technical take, see Professor Smita Sadana's Looking to Short Apple?

From the Bull Pen: While Apple is no short, it may be a nervous long. For the more passive investor, one can maintain a core position at this level. Be wary that breaking below $141 could be the beginning of an intermediate downtrend, so a sell stop can be set near that level.

From the Bear Cave: For downside technical plays, keep an eye on RIMM nearing gapfill at $95. One can also consider Google at $460 resistance. If and when they get there.

Quick Check Around the World

Asian trading closed with the Hang Seng 0.96%, Sensex 0.63%, Shanghai Composite -0.48%, Nikkei 1.02%, and Taiwan -0.28%.

Glancing towards Europe, we see the CAC 1.01%, DAX 0.55%, FTSE 1.72%

As of 8:10 AM EST, S&P Futures are trading -2 to 930.00, and Nasdaq futures are +1 to 1477.00.

A Look at Commodities

Over in commodities, crude oil is trading +0.41 to 69.22 while gold is -3.40 at 978.90 this morning. Silver is -0.175 to 15.72 and copper +0.30 to 230.40.

The dollar index is +0.1260 to 79.5500.

On the Radar


08:30 Average Workweek 33.2 Cons.
08:30 Hourly Earnings 0.2% Cons.
08:30 Nonfarm Payrolls -550k Cons.
08:30 Unemployment Rate 9.2% Cons.
02:00 Consumer Credit $-6.0B Cons

Happy Friday! Good luck!
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No positions in stocks mentioned.

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