I wanted to post a little early because I got a late jump this morning.
The market is up again today and the bulls are putting in a solid week. The Dow is up 38 points to 9,722. Hello 10,000?
One stock I have been watching all morning is Apple (AAPL, $179.15, up $3.99). Well, actually I have been watching it for years and we have had great success trading Apple when it has been profiled in the blog (hope I didn’t jinx us). The stock passed $150 in late July which was a sign that $200 could be on the horizon. However, it would depend on the market.
Well, I have mentioned the bulls are determined to take this market higher and although it doesn’t make sense to a lot of people, you have to trade the tape folks.
Apple is monster and currently owns less than 5% of the smartphone market. Plus there is an accounting change that could be forthcoming which will allow Apple to book its revenues ASAP instead of the over a two-year period as is the case with the iPhone. Subscribers, check the Members Area, NOW for the rest of the story and the NEW TRADE. I’ll be back at 1:00pm with another update.