Gapped up big again today and traded higher which is a bullish sign as a whole and we will likely build higher. In the short term however, we are extended to the upside and looks like we want to pullback some from here. You do not want to be the one that is chasing these prices, you will get hurt, your money is not made now. It is much smarter to be buying on a pullback than buying highs. Therefore, saying this - I would feel most comfortable being short tomorrow, then long, and then flat (though that really doesn't count).

Apple did not close green today unlike the market and it showing continued signs of weakness, NOT leading the market. Again, this is not the time to buy Apple, let's wait for a constructive pullback to buy. 

Google was a lackluster stock today, did almost nothing, it did gap up with the market in the morning and then just hung out for a little bit. I would look to long this stock now, or maybe at the re test of the 712 area. Again, it is hard to chase but looks like it wants higher eventually. 

Amazon had a nice day like all the other market stocks (mostly) but it did not have the strongest day it's had. It did not have the volume to confirm it's move and it closed with a hammer (a possible reversal sign). 

If you would like to contact me for any questions/comments please see the contact page. 

Also, I uploaded the 2013 predictions TODAY. Visit that page by clicking on the link at the top of the page. 

Leave a Reply.