Seeking Alpha

InTheMoneyStock...'s  Instablog

InTheMoneyStocks.com
Send Message
InTheMoneyStocks.Com is a research and consulting company focused on mathematical proprietary techniques along with a key understanding of price, pattern and time. Through understanding geometry and other technical analysis methods, InTheMoneyStocks.Com prides itself on avoiding Wall Street hype... More
My company:
InTheMoneyStocks.com
My blog:
Pro Traders Rant and Rave Blog
  • Stocks Market Drunk Off Apple Schnapps 0 comments
    Feb 15, 2012 12:15 PM | about stocks: AAPL, JPM, XOM, AMZN
    The S&P 500 and NASDAQ continue to push higher, even with weakness in many leading stocks. This push higher is a result of the market being drunk, euphoric over the continued major pop in Apple Inc. (NASDAQ:AAPL) . The leading technology stock is trading at $524.42, +14.96 (2.94%) and makes up a huge percentage of the PowerShares QQQ Trust, Series 1 (ETF) (NASDAQ:QQQ). Its weighting inside the NASDAQ 100 means it can carry the index higher itself. To put it in even more of a crazy perspective, the last day of 2011, AAPL closed at $405.00. The high of the day today is $525.32. That is a whopping 2012 gain of 29.71%.

    While Apple continues to rip higher and keeps the markets higher, it is even more insane to look at other leading stocks fall. For instance, JPMorgan Chase & Co.(NYSE:JPM) is trading at $37.91, -0.01 (-0.03%), Exxon Mobil Corporation (NYSE:XOM) is trading at $84.29, -0.38 (-0.45%). Even technology big boy Amazon.com, Inc. (NASDAQ:AMZN) is trading at $191.00, -0.30 (-0.16%).

    The fact that the other leading stocks in the market are flat to lower truly shows the power of Apple Inc. While extremely extended, the push continues. According to what Wall Street is seeing, when Apple pulls back, the whole market will pull back.

    Gareth Soloway
    InTheMoneyStocks.com

    Stocks: AAPL, JPM, XOM, AMZN
Back To InTheMoneyStocks.com's Instablog HomePage »

Instablogs are blogs which are instantly set up and networked within the Seeking Alpha community. Instablog posts are not selected, edited or screened by Seeking Alpha editors, in contrast to contributors' articles.

Comments (0)
Track new comments
Be the first to comment
Full index of posts »
Latest Followers

StockTalks

More »

Latest Comments


Posts by Themes
Instablogs are Seeking Alpha's free blogging platform customized for finance, with instant set up and exposure to millions of readers interested in the financial markets. Publish your own instablog in minutes.