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Wednesday, December 30, 2009

Market Thought... interesting action

So we have a situation where the push upward is still in play. The internals (key individual stocks) do not suggest a correction just yet.

The Vix came off its oversold position, and the market looks like it is consolidating. I am still waiting for the Vix to really come down before I start protecting.

I have noticed some weakness in IBM this morning. Will enter a second position at 130. (It came really close this morning, but I may have missed it for the next leg up.)

The WSJ is now questioning AAPL's move due to the hype in the iSlate. I recently gave a warning on this, but my warning was centered around a forceful push upward that was occurring to fast. Generally speaking, w/out the iSlate, AAPL is worth more than 210.

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