Apple (AAPL) - bouncing here to $173 range which is the 50 day moving average. We'd like to buy if it can break through that level, of if it pulls back substantially (to where it was this morning - wow down to $164, quite a bounce) Cutting this position in half down to 0.7% of holdings.
That chart of Google (GOOG) still strikes me as ominous and Google *is* tech nowadays. There is about a $60 gap that looks to be filled there - again I think this could be a wonderful short (I can't do it but I would if I could) Set that stop loss over $540 and a wonderful low risk trade awaits - current price is $530.
This is one of those times, franky, I have no feel for where the market could go. 50/50 either way. I took a quick glance at some sites I read and almost everyone is anticipating an oversold bounce. That makes me nervous - when everyone assumes something is happening, generally the market will go the other way. We shall see. Unfortunately no matter what happens between now and Thursday 8:30 AM, it will be sort of a sideshow to the knee jerk reaction the unemployment rate will cause. So placing serious bets either way is akin go going to Vegas. I'd rather err on the side of caution, and lose some potential upside for now.
Long Apple in fund; no personal positions
