Apple Looking Like a Mac Daddy
Rockets up off its lows - for now.
What's the opposite of blood in the streets, pie in the sky? Buy greed, sell fear?
All I can say is, though I'm content to scalp them long intraday here -- and already rang the cash register on much of my overnight longside risk -- I have to wonder if this isn't a headline inflection point, what with some pundits proclaiming that "the Depression is over" and "it's a new bull market."
Especially when these same pundits were screaming to sell the world and stay away from stocks at the lows in March.
"Cause where I live the game to play is compromise solution;" Mick.
Let's not get too emotional into the green day, any more than we did at the red fray. Let's see what the behavior will bring on an up, down, up sequence in the monthlies. That's what told the tale on the strength in Apple (AAPL) and Goldman Sachs (GS). Apple looks like the Mac Daddy today, 360 up from low of 117.
See the monthly charts of both below and their Up Down Up Sequences from my report this morning.
Click to enlarge
Click to enlarge
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