Monday, October 19, 2009

APPL smashes earnings expectations!

It's a bit late, so I'm not going to go technical on you here. But basically AAPL was a huge winner. After hours trading was up, and I assume we may see it push SLIGHTLY higher tomorrow. I wouldn't expect too much more though. The stock has hit an all time high, and I wouldn't be surprised if over the next two weeks, we see a 3-5% retractment.

Here is a note that I'll expand on later this week though:

I don't see AAPL as a big step forward in the recovery of technology companies. Rather, I see this as a big step forward in the recovery for the Consumer Discretionay category! Now is a time in the market cycle where the US consumer is going to start spending again. I'd look into Consumer Discretionary ETF's along with all the technology companies out there. In addition, retail and ultra-luxury stocks are probably going to head higher (hint: Look back at history... typically September and October stock market results give a preview at how much Christmas shopping we do here in America). I'll give some specific picks this week.

Happy investing...

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