Today 10/3/08, Apple opened up higher...hitting a high of $106.50, and then tanked under $100 and hit a low of $94.50. This move took only several minutes on very heavy volume. A few minutes later, when CNBC talked live to someone at Google, Apple shot back up to the $103 level where it started.
Could this be the capitulation bottom the longs have been looking for? To me, that looked like a classic bottom but its way to early to tell.
There was definitely support at the $95 level from last year on AAPL
http://blackberrystocks.com/aapl.html
Showing posts with label 10/3/08. Show all posts
Showing posts with label 10/3/08. Show all posts
Friday, October 3, 2008
Nasdaq Analysis from QQQQ - 10/03/08
This Nasdaq has gotten beat up lately thanks to the overall market and RIMM - Research in Motion earnings. However, there is a chance for a sharp year end rally given that the house passes the bill today.
Watch the QQQQ. Yesterday 10/2 it had trouble getting above $37.50....so if this level is breached, I think you could start to see a nice up move to $38.50. If $38.50 is taken out, you will start to see a major short covering rally going into earnings season.
Watch the QQQQ
Watch the QQQQ. Yesterday 10/2 it had trouble getting above $37.50....so if this level is breached, I think you could start to see a nice up move to $38.50. If $38.50 is taken out, you will start to see a major short covering rally going into earnings season.
Watch the QQQQ
Jobs Number - Unemployement Rate 10/3/08
We lost 159,000 jobs .... biggest decline since March 2003
Uemployement Rate still 6.01%
Uemployement Rate still 6.01%
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