Apple Anxiety

apple earningsMarkets have yet again begun the week with solid buying, with the hope of solid earnings from Apple. Apple has a very strong history of knocking earnings expectations out of the park (they are also known for setting lower expectations than normal), so to see the big numbers from Apple is no big surprise. The company reported profits of $1.82 per share, which was a big leap from last year's $1.26 per share. The report is quite impressive, especially when considering the economic circumstances and still shows that Apple continues to be a leader and pioneer in consumer electronics (which is a big reason why I put them on my Top 2009 stocks list at the beginning of the year).

Earnings continue to be the driving force of market performance, which thus far, has once again perceived to be better than expected. However, with that, global economic indicators have not been so fortunate. Unemployment continues to be on the rise and continuing currency printing has brought the dollar to new lows. Market volume still remains critically low, which on rallying days like today is very abnormal. We are starting to reach the season in which last year weathered very difficult for the stock market. Year end seasons always provide a lot of pressure to big corporations for budget cuts, loss write-offs, and next year projections. Considering our current state, none of those factors can be too encouraging.

I continue to see no window of entry at the moment in the market, as insider trading continues to run rampant. I do believe that we are at or near the point of change and that it is only a matter of time before negative sentiment once again takes the stage in Wall Street. Happy Trading.



    Apple really is the apple of everyones eye. Time to sell.

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