Trading Systems blogs

Shares of Apple (Nasdaq:AAPL) are trading nicely higher today, after swooning earlier this morning. Nearly all attempts for this stock to bottom have failed, but the question remains, has AAPL finally bottomed?

The stock is off fully -33% since it peaked in mid-January. I think that such a decline likely prices in all of the concerns that are out there in the market: law of large numbers catching up with growth; Mac sales still disappointing; lawsuits from France and The Beatles, etc. None of these issues are "new".

The news today is about whether AAPL is in talks with the NFL about a new contract for exclusinve digital content. That would be big. There are also rumors swirling about a new iPhone coming out.

Today also looks like a good technical level for the stock to bottom. A look at the chart below shows that the stock had

Standout Stocks
at 2006-04-04 01:40:34

Here are some stocks making notable moves today:

AAPL - bounces strongly off of 200-day
NETL - analyst updgrade spurs move to new highs
CHIC - gaps higher on bullish outlook
IVAC - large order for systems spurs new highs
SHFL - continues its ramp towards the moon
AQNT - high volume reversal on analyst upgrade
PETS - drops below 50-day on volume; analyst downgrade
ACN - announces loss of large contract
<

...read more

Solid Reversal Day
at 2006-04-04 01:40:34

Yesterday I commented that the outside day reversal was possibly foreshadowing further weakness. But, as always, follow through is the key. Today, we basically got a reversal of a reversal, with the SPX closing above Tuesday's opening levels and the COMP making new 52-week highs.

Volume rose nicely today, so there was some conviction behind the move (and it makes for an accumulation day). Breadth was also solid, with a strong A/D line and the Hi/Lo Index bouncing back sharply. I was also surprised to see the market essentially shrug off both higher oil as well as higher bond yields. Maybe the market is coming to terms with the durability of this expansion.

The Nazz outperformed handily today, which is nice to see. Recent laggards like Apple (Nasdaq:AAPL) and Google (Nasdaq:GOOG) both rose sharply today. There have been a

...read more