Linda,
It is not a good day for teck stocks. Almost every one is down,
probably except Sun Micro. Compaq got a hit, Dell was down, IBM,
HP, Microsoft, Oracle all went south. Apple was off 11/32, which I
think is pretty stable compared to others.
Jobs didn't bring up any news that could impact the stock
significantly. The price only corrected by small percentage is pretty
sustainable at this level. The volume is about on average. The
current lowest level (short-term) will be around 25 15/16 set by today.
The short-term trend is still slightly bearish, however it seems to
break out that trend in the last 30 minutes (if you look at 1-minute
chart created by quote.com.)
There was another network company's warning after-hours today, but the
late rally in DOJ will carry into tomorrow's early trading, which
probably will bring along teck stocks recovery from today's loss.
I think Apple will re-gain back recent less-than-1-point loss and
re-test another high in months, if the volume returns back to 4+m.
Overall, Apple looks never better than now, it seems everything is
on the right track. All we have to do is waiting for the arrival of
Q2 report on 4/15 and shareholders meeting on 4/22.
By the end of March, I am looking forward to reading shorts
outstanding percentage report to see where it stands under recent
rally.
Phil |
