Apple Inc. (NASDAQ:AAPL) is falling sharply again today. The once rocket ship stock is dropping quickly to earth. Apple is trading at $534.77, -11.30 (-2.07%). The media and analysts were pumping the stock when it was trading over $600.00 per share. Meanwhile, when Apple was $621.00 a share, I alerted the world to sell it and go short. Here is the link to the press release. Note the call on the market as well for the down cycle. See Article Here.
As Apple falls, institutions and analysts have asked me to tell them where the next bounce will occur. The chart below explains it beautifully. The level for an Apple bounce will be $520-$525. The stock will bounce 5% off of this level before resuming its downward track below $500.00.
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Gareth Soloway
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www.InTheMoneyStocks.com
As Apple falls, institutions and analysts have asked me to tell them where the next bounce will occur. The chart below explains it beautifully. The level for an Apple bounce will be $520-$525. The stock will bounce 5% off of this level before resuming its downward track below $500.00.
Take the seven day free trial to the Research Center and Intra Day Stock Chat. Join the elite pros with a secret proprietary methodology that allows you to profit in any market. Become an elite pro while investing, swing trading or day trading. Get swing trade alerts, market analysis and more.
Related: SPDR S&P 500 ETF (NYSEARCA:SPY) and PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ).
Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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This morning, all of the leading oil service stocks are holding on to some minor gains. This sector along with most other energy markets has been very weak since March 2012. Today, the Market Vectors Oil Services ETF (NYSEARCA:OIH) is trading higher by 0.20 cents to $36.16 a share. Short term day traders should watch for intra-day resistance around the $36.70, and $37.40 levels. This sector could be poised for a bounce if the major stock indexes can rally as the OIH is showing intra-day relative strength.
Some of the leading oil service stocks that are trading in positive territory today include Baker Hughes Inc (NYSE:BHI), Transocean LTD (NYSE:RIG), Diamond Offshore Drilling Inc (NYSE:DO), and Halliburton Company (NYSE:HAL). These stocks should be followed closely today as possible runners if the major stock indexes can catch a bid higher. If the major market indexes decline lower then traders should not expect these stocks to move much higher.
Post by: Nick Santiago
Some of the leading oil service stocks that are trading in positive territory today include Baker Hughes Inc (NYSE:BHI), Transocean LTD (NYSE:RIG), Diamond Offshore Drilling Inc (NYSE:DO), and Halliburton Company (NYSE:HAL). These stocks should be followed closely today as possible runners if the major stock indexes can catch a bid higher. If the major market indexes decline lower then traders should not expect these stocks to move much higher.
Post by: Nick Santiago
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Most of the leading agriculture stocks have been very weak over the past few weeks. This important sector will often trade very similar to the leading commodity stocks. Most of the leading agriculture stocks are now very oversold on the daily charts, however, as long as the major stock indexes are weak these stocks could decline further. CF Industries Holdings Inc (NYSE:CF) is considered to be one of the most important agriculture stocks in the market. This stock should have some short term intra-day support around the $156.90, and $155.00 levels.
Some of the leading agricultural stocks that are trading lower today include Monsanto Co. (NYSE:MON), Potash Corp Sask Inc (NYSE:POT), and Agrium Inc (NYSE:AGU). All traders should note that these stocks are very oversold. Should the U.S. Dollar Index sell off or pullback these stocks could catch an intra-day bid off of the lows.
Post by: Nick Santiago
Some of the leading agricultural stocks that are trading lower today include Monsanto Co. (NYSE:MON), Potash Corp Sask Inc (NYSE:POT), and Agrium Inc (NYSE:AGU). All traders should note that these stocks are very oversold. Should the U.S. Dollar Index sell off or pullback these stocks could catch an intra-day bid off of the lows.
Post by: Nick Santiago
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Leading Indicators for April reported in at -0.1%.
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The news out of Europe seems to get worse by the minute. Leading Spanish bank Bankia continues to experience customer withdrawals. Greek banks suffered the same fate recently as customers staged a run on many of the financial institutions. Today, the IBEX 35 (Spain) is trading lower by 1.36 percent, meanwhile, the FTSE MIB Index (Italy) is declining lower by 1.94 percent. Any way you slice it or dice it, Europe is a mess and is likely to get worse before it gets better. Traders should continue to follow the U.S. Dollar Index as the major stock indexes continue to trade inverse to the U.S. Dollar. Please understand that the U.S. Dollar Index is now overbought in the short term and could be due for a small pullback. Some leading equities that could bounce if the dollar declines include ProShares Ultra Silver (ETF) (NYSEARCA:AGQ), Newmont Mining Corporation (NYSE:NEM), ProShares Ultra DJ-UBS Crude Oil (NYSEARCA:UCO), and Yamana Gold Inc. (USA) (NYSE:AUY). These same equities are likely to decline if the U.S. Dollar Index continues to rise.
Post by: Nick Santiago
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Continuing Claims for the week of May 5th increased by 18,000 to 3.27 million.
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Gareth: PR released shows the master analysis at work. Hedge funds and institutions have contacted us off the AAPL and cycle top call. Here is the PR released. Note the date was March 30th, when the SPY was above $140 and AAPL was at $621.00.You guys are privy to what the institutions wish they could have. Enjoy and profit.
http://www.prweb.com/releases/2012/3/prweb9347353.htm
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