Two Ways To Play: Chinese iPhone Sales Pick Up
Strengthen your portfolio in good times and bad.
Apple's (AAPL) iPhone may be gaining popularity in China.
The Wall Street Journal reports that after a slow start, sales have picked up to more than 100,000 since its official launch on October 30.
But the figure is still well below where Apple wants to be in China -- the world's largest mobile phone market by subscriber accounts. And in relation to the US, Apple sold 270,000 iPhones in just the first 30 hours after the phone became live in 2007.
For another perspective, see Michael Comeau's How to Kill the iPhone.
From the Bull Pen: Apple breaking its short-term downtrend is a healthy sign. The stock is sitting right below its 20-DMA (considered overhead resistance), but those bullish can set a 2% sell stop below entry.
From the Bear Cave: In tech, one can look to Qualcomm (QCOM). On the charts, the stock has been somewhat of a laggard. Those testing the downside can set a buy stop above $46 resistance.
For more ways to play and other trading ideas from more than 30 top market pros, take a free trial to our Buzz & Banter.
A Quick Check Around the World
Asian trading closed with the Nikkei -1.34%, India -0.59%, Hang Seng -1.44%, Shanghai -1.73%, and Taiwan 0.37%.
Across the pond, we see the FTSE 0.10%, CAC 0.35%, DAX 0.04%
As of 8:25 AM EST, S&P Futures are trading +7.60 to 1098.50. Nasdaq futures are +8.500 to 1798.750
A Look at Commodities
Over in commodities, crude oil is +0.35 to 71.02 while gold is +3.400 to 1123.80 this morning. Silver is +0.222 to 17.38 and copper -0.055 to 309.25.
The dollar Index is -0.0600 to 76.3700.
On the Radar
08:30 Initial Claims
08:30 Continuing Claims
08:30 Trade Balance -$37.1b cons.
Click here for the full trading radar.
Good luck today!
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