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David Fry
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David Fry writes a subscription newsletter focused on technical analysis of exchange-traded funds, called ETF Digest (www.etfdigest.com). Dave founded the ETF Digest in 2001 and was among the very first to see the need for a publication that provided individual investors with information and... More
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ETF Digest
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The Best ETFs: U.S. Equities (A Companion Guide To Building Your ETF Portfolio)
  • APPLE RUMORS & GREECE HALT RALLY 0 comments
    Feb 15, 2012 7:23 PM | about stocks: SPY, AAPL, IWM, QQQ, XLK, CAT, UTX, XLI, C, KBE, XLF, ANF, XRT, CMCSK, IYZ, ITB, DF, XLP, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USO, UGA, UNG, IXC, DBA, EZU, EFA, EEM, EWA, EWJ, EWS, EWY, ILF, GXC

    Greek issues continued to surface plaguing investor confidence and regurgitating these issues here is futile since I don't have anything to add to current knowledge. Suffice it to say, the problem will haunt markets for a long time given contagion fears as they may apply to Italy for example--a much bigger economy.

    Rumors swirled that the NASDAQ was about to lower the weighting of Apple (NASDAQ:AAPL) shares currently at 20% of the index ($NDX) related to the QQQs. The exchange didn't comment when asked but this weighting existed for a long period prior it being reduced just last year I believe. This caused a sharp $30 reversal in Apple's price. Generally, technicians dub this an "outside day" when the stock opens much higher and then reverses closing near the day's low. This is bearish technically. It shouldn't surprise anyone if this rumor was planted by shorts.

    <READ MORE>

    Themes: ETF Stocks: SPY, AAPL, IWM, QQQ, XLK, CAT, UTX, XLI, C, KBE, XLF, ANF, XRT, CMCSK, IYZ, ITB, DF, XLP, IEF, TLT, UUP, FXE, GLD, GDX, SLV, JJC, DJP, USO, UGA, UNG, IXC, DBA, EZU, EFA, EEM, EWA, EWJ, EWS, EWY, ILF, GXC
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