In Case You Missed It - Member Trades Exposed
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Well Apple didn't quite help the cause for a continued pullback on the major indices now did they? Good for them - not so good for us. Since we took out a short position in the Q's a few days ago, we had to close it out this morning because like we said, if the market took out yesterday's high, we'd be out. The NDX gapped up slightly this morning above yesterday's high, sold off in the first hour and we got out with no blood. Although the trend is usually your friend, we're not chasing this to the upside.
As for Apple (AAPL), it just goes to show you if you put your money to work in the right ideas, there's plenty of money to be made in this market. We've been saying all along that tech is the longer term strength in this market. While so many other sectors like energy, commodities, retail etc... have garnered most of the attention for years, it appears tech is again on the rise. Will we see another tech bubble in the near future? I doubt it but it's definitely the place to be for the time being.
So what did you all think of last night's State of the Union? Personally, I could have puked at least a few times for a number of reasons. What's likely going to bother me most during this presidential campaign is both parties are going to do everything they can to separate the values and ideals amongst the masses in this country to an extreme, when in fact we need to be bonding and coming together. Too many self-serving interests out there right now in a time when the American people should be on the same page for a common goal. Just my two cents... you don't have to agree but that's the way I see it.