Spank my Apple: Apple's Pummelling Uncalled For
Earnings season in a down market can be truly harrowing.Inflation, energy, fraud -- can it get more negative than this?
Where's the band aid that will stop all this bleeding?
We have quite a way to go before we arrive at that 1300 S & P target every Tom, Dick and Harry on Wall Street has established for year end.
Digesting Rita's aftermath has obviously taken longer than most traders expected.
And you know you're swimming in contaminated water when big fish like Apple (AAPL) report robust numbers but still have to face a spanking from overly fickle investors.
We've spent the last week or so looking at a number of different ideas to bring to your attention (most of which we will tackle over the weekend).
As such, our own account trading has been kept to an absolute minimal.
Two stocks we're looking at closely are drug giants Pfizer (PFE) and Genentech (DNA), recent victims of undeserved selloffs.
When it comes to oncology, Genentech is best of breed; we wouldn't be surprised the least bit if shares bump $90 over the next 2-3 sessions.
We think the best thing to do right now is to sit in cash (sometimes, cash is the best investment) and keep a close eye on the institutions.
When pensions, funds, and banks feel brave enough to climb the mountain of negative sentiment, we'll be right behind them, stick and trail mix in hand.
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