Apple (AAPL), Research in Motion (RIMM), Google (GOOG) - the Holy Trio of NASDAQ

While there is a lot of fuss and muss about the NASDAQ this, or that - really the index can be broken down to the holy trio of Research in Motion (RIMM), Apple (AAPL), and Google (GOOG) much of the time. Every time there is a big performance either to the upside or downside I read about how these handful of stocks contributed 30,40% of the move.

As I wentioned in the weekly summary, Research in Motion reports this week... and Apple had pulled back to support. Relatively speaking Apple is holding up well today and it sits right at the 20 day moving average. Today's pullback has pushed RIMM to the same spot.

Google is slightly weaker intraday pushing below, but the close is more important then the middle of the day.


And since we live in a world where as Doug Kass says, institutional money worships at the house of prive momentum - here is the Chinese equivalent.


It's very tricky here because while I expect a nice story out of RIMM it's not a matter of the story; it is all about the story versus expectations and if enough good things are said to support a monster run. If RIMM goes rogue later this week, the NASDAQ will crumble with.... there is no way to know ahead of time so just be flexible and ready to roll with the punches.

If one believes the 20 day moving average on the S&P 500 will again provide support, one would jump into the Apple/RIMM/Google trio here - as they lead almost any bounce.

Long Research in Motion, Baidu.com in fund; no personal position