Just a couple months ago, Apple Inc. (NASDAQ:AAPL) would open higher and climb all day long. Those days are long in the past as even today, Apple finds itself struggling to keep the gains from the morning session. In dramatic fashion, the stock opened slightly higher, and surged, gaining over $12.00 on the session. However, since the highs were put in around 10:30am ET, the stock has faded, now just trading at $591.44, +7.46 (1.28%).
Apple continues to be a solid barometer for the overall market. If it continues to show weakness and falls lower, the markets will likely come off their highs and fade. In addition, continued weakness means further problems in the market over the next few days and weeks making this a very good shorting opportunity in the markets. Keep watch of Apple, it will tell the markets tale.
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Gareth Soloway
Chief Market Strategist
www.InTheMoneyStocks.com
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