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 Apple, Inc. (NASDAQ: AAPL) totally proves the "buy the rumors, sell the news" saying again. AAPL has dropped more than 10% after Iphone 5c 5S were announced. Bearish MACD Crossover is around the corner. The bounce-back after the huge age is very unnoticeable and with little volume, showing there is very limited buying power in the market. For the past several behaviors, AAPL tends to drop after prices closing around upper B. Band. Even thought there is a golden cross with oversold signal in Slow STO. I don't think there is much space for AAPL to run up. It will eventually hit $400.00 level again and retest the support at $386.06 again.


 Hovnanian Enterprise, a real estate company, has a breakabove in both price chart and RSI 50-level. The volume is average which does not give a very bullish sign. Plus, considering the MA(50) and rounding top MA(200), we should take a close look at how the movement develops.


 Intel Corp (NASDAQ: INTC) Technicals are bullish with a breakabove of a downtrend, MACD Crossover and trading above both 50SMA and 200SMA. It had a nice setup since Septembers begins with a breakabove of the channel with a pullback. INTC is on the run again and RSI is still not at overbought level.


US Steel, another stock breaking above a channel, has pulled back to its breakout level, AND still above 200SMA level. RSI level has eased a little bit. The volume in the dropping days are quite little. Strong reading in MACD and the trend of its signal line. For me, U.S. Steel is the most confident pick I have today. I really don't see anything but very bullish setup from the price chart.


YOKU, acquired Tudou last year, has made a new 52-week high last Friday with a run-up of almost 9% with huge volume due to unusual volume on call options, as I predicted on Thursday. Although it is a very bullish setup, I don't find any news, except integrating eith QIHU tools, which might be great enough to support its recent move. HSBC, JPM and DB all downgraded YOKU and reduced their target and last earning report was on Aug 08. Be Aware and Stay Tuned for now. I suggest selling your position if you read my post and bought the stock on Friday morning.


To all my Dear followers,


I have moved back to Hong Kong from New York last month and am now working at a Chinese-owned Asset Management Company as a Fixed Income Analyst. I have just resumed writing this blog. I am very delighted to see my number of followers on Twitter exceeded 1,000. I am aiming for 2,000. in 3 months. Please help me to spread my blog and Twitter if you like my analysis or if I helped to earn some fortune.


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Gary Lee

The following article is from one of our external contributors. It does not represent the opinion of Benzinga and has not been edited.

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