The Wrap 12/4/12


The churn continued today as stocks slid.  Something appears wrong with AAPL as it sold off another ten spot and another five down in the after market. AAPL has had trouble since it came close to the 200 day moving average the other day.

GOOG is also acting squishy since it hit its 50 day moving average the other day. Market confidence is lacking right now, as all headlines are all fiscal cliff related. No movement yet.

NFLX had a huge day, as the shorts ran for cover after they announced a content deal with Disney.. I stopped out yesterday for about a fifty cent loss on the P&L. Good timing on my part. It happens.

My worry is that the market is running out of patience and may decide to send Washington its own sort of message soon.

Some stocks look like they are starting to buckle, maybe with good reason. I don’t think its anything to worry about yet, but it does bear watching. The market has after all had a nice move up from the November 16 lows. This could just be some shallow profit taking on low volume.

I don’t have any new names tonight, but you can look at the P&L for names that are still in buy range.  Some include: AFFY, AMGN, SNTS, SRPT, CLF & AGCO.

Have a great night and I will see you on the chat room in the morning.


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