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Two Ways: Apple, Jobs Ripe for Developers Conference

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Strengthen your portfolio in good times and bad.

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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

Economics

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.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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