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Priceline And Apple Say Good Things About Overall Market

Priceline And Apple Say Good Things About Overall Market

Jan 17 2014, 4:33pm CST | by

What a week this has been.  It started with a broad sell-off, but on Tuesday the indexes recouped all that was lost on Monday and traded the rest of the week up to either lateral or trend channel...

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26 weeks ago

Priceline And Apple Say Good Things About Overall Market

Jan 17 2014, 4:33pm CST | by

What a week this has been.  It started with a broad sell-off, but on Tuesday the indexes recouped all that was lost on Monday and traded the rest of the week up to either lateral or trend channel resistance.

With respect to the indexes, the trend of buying stocks at support in tandem with the indexes at support remains in tact.  At some point this trend will change, but for now that remains the trend to trade off of.

The action in the indexes was nothing compared to the Mr. Toad’s wild ride in leading stocks. On the plus side, Priceline.com (PCLN) and Apple (AAPL) bounced nicely from support areas.

On the downside it was a rough week for many of last year’s big winners:

So what does this tell us?

With regard to leading stocks, there’s two ways to look at it.  The first is it’s always a stock picking market and from time to time leadership rotates from past leaders into new leaders — solar could be a new leadership area as those stocks had a big week. Leading stocks often rally BEFORE the market does and fall BEFORE the market does.

The sell-offs in many leading stocks combined with the indexes close to short-term resistance can’t be ignored.  Any healthy pullback off of resistance to support levels would do a world of good for those of us that like to buy leading stocks at support and not chase stocks.

So we’ll continue to sit back and let stocks come to us and use support levels as our low-risk entry points.

Source: Forbes Business

 
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KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Minister, Datuk Seri Hish ...
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6 weeks ago

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Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

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6 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

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6 weeks ago

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Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minister Datuk Seri Mus ...
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6 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

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6 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

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7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara Skyway (Ki ...
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