|Written by L.A. Little|
|Tuesday, 08 January 2013 07:27|
There's an old saying that bull markets don't let you in and bear markets don't let you out. Think abou the current situation. Isn't that what we are seeing - an unwillingness to allow for good entry points? Despite all the negativity and worries, it remains the case that this market has an underlying bid. You can say its because of the Federal Reserve, or this or that but does that really matter? What matters is whether it is going up or down and right now up is the operative word.
Apple traded heavy yesterday and has for three months but there was a silver lining as I described in the piece over on Premium Content (you need to be logged in to read it). It might be that Apple becomes the catalyst for higher prices three weeks from now. Not a certainty but certainly a possibility.
As for right now, Apple looks to try and support the market today after the nice stick save yesterday. We'll see if it and Google can do the trick.
Market needs a rest. If it does it by time instead of price, that is very bullish. Way too early to assume it will but so far it is.