The Art of the Trade: The AAPL Effect

AAPL Effect by NEWWAVE TRADER on JUNE 13, 2011 As the market flirts with the 12k level there are some interesting things to consider. The first is the AAPL effect. The most storied stock of all. It acts terrible and dropped 20 points since the Steve Job keynote. It's certainly been impossible to short but markets constantly need to be evaluated. Other notables: The dollar. Strong dollar equals a weak market. Use it as an ancillary. Oil. It's backed off which could help the economy but hurt stocks. Nasdaq. It's not only AAPL. GOOG, AMZN, BIDU and host of others look like “death warmed over”. Gold. Also act lousy. Weaker gold doesn't bode well for the market. Day Traders. They get caught easily and most trade from the long side. Fade them. Banks. They've popped a little but overall act terrible. Teaching and mentoring is available for all levels of experience. Please contact for details. Additional posts can be read at the www.chicagotrading.org. Disclaimer: All comments are strictly the opinion of NewWave. They are not recommendations of any kind.