Friday, May 2, 2008

Buy The Market, Buy AAPL!


All the pieces are in place to continue this breakout. The Jobs report this morning was much better than expected, only 20,000 fewer jobs, compared to the consensus of 80,000. That's a HUGE difference and great news. Who are these analysts anyways? How could they be that far off?

This confirms it, buy the market. What are the best places to be? Well the best performers right now are the retail, financial, and technology sectors. And that's where the big money is going as well.

Today's action was very healthy, with a slight sell of, all the oscillators have unwound (RSI, Stochastics). This has provided breathing room for buyers next week.

There were some good buys today, as Apple (AAPL) bounced off support, if you were nimble, you could have picked it up at a good price. This stock is hot, and most analysts believe, as do I, that it will easily reach 200 again, and soon. Google (GOOG) also retracted a bit, ditto with Research in Motion (RIMM). All are at very attractive prices right now and excellent upside potential.

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