Market Update April 13 2011

April 13, 2011 by  
Filed under Uncategorized

April 13 – No daily video today but I will give a brief synopsis. The bulls certainly weren’t in any hurry to push things up after the drop yesterday. We appear to be waiting on baited breath for earnings to start the move. The NAS was stronger today and why not? Most people are bullish on the techs as earnings come into focus and for good reason. Most of what we’ve seen in the recent past has been positive for the markets even if a few stocks report badly. AAPL made a small push up today and held that lower $330 area for another day while BIDU and GOOG also showed some upwards motion. If things are going to get bullish into earnings these will be on most of the investors radar. I typically find buying some AAPL a month or so before earnings are released to be a pretty good bet but it hasn’t shown near the strength it usually does with earnings only being a week away. Watch to see if it starts to get legs as GOOG and others report into the end of the week and even one call option can add up to quite a bit by the time AAPL reports.

Continue to watch the areas of support and resistance we’ve been focusing on and let’s see if the big dogs can move things in the bulls direction yet again into and through earnings season.

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