Zach Bass

Apple Investors Need to Get a Grip

Wada, I'm just pointing out that we can't sit here wringing our hands every time we have a down day. Have a plan, stick to your convictions. And Apple is part and parcel of the S&P.

After we came off the bottom everyone was bright-eyed, we have one down day, and everyone is doom and gloom. Well, I'm here to tell you that the outlook is good for the markets right now.

This morning a strong Durable Goods report and better than expected Housing data provided this mornings pop. However the market is still feeling the pain of yesterday so the response to this news is somewhat tempered.

The good thing under the covers, is that we have a strong daily and weekly chart outlook (positive divergence on the weekly), let's see if that will prop us up enough and keep the market from testing the bottom (S&P @ 1200), and get those positive divergences to send us up.

And one more thing: Consumer confidence is making a comeback...The University of Michigan's consumer sentiment index has come in higher than expected. C'mon people, let's drive that price up to where it belongs. Damn the naysayers. GO APPLE!!