Today makes 17 consecutive trading days with volume below 19 mil. We need to see a 20+mil volume day b4 we can get any substantial run. Interesting note: today makes it 3 days in a row of volume below 12 mil- that has'nt happened in 8 months- the last time was april 9,12&13- the next 8 trading days that followed, aapl went from 242 to 271, a gain of 11.72%. I'm not saying that's what will happen now, I just thought it was an interesting stat. If we did get a similar 11.72% move from here that would put us at 358.13 by dec 22. Let's hope history repeats itself!!
looks like we're headed for 21st consecutive day below 19 mil volume. at 12:30 we're on pace for about only 12 mil. can't breakout until we break above 19+mil. still think we do & see 340 by year end.
I'm still crazy bullish on aapl for 2011, but I do agree that financials could rebound big time next year. This would be great for the overall market, to have financials lead us up again. My fav is c
hmm... that is interesting since when it was 80... it's p/e was ~15. when it got over 100, the p/e ~20. now at 320, the p/e~20.
what that means is from 100 allllllllll the waaaaay to 320, the P barely kept E. there has been really little to no premium since the banks were collapsing...
I think you're right too, the Volume being low is a bad sign.
Perhaps there will be a big sell off this year by some of the big firms to help the bottom line of the banks and try to show some big profits with year ends....
Maybe 2011 is the return of finnancials? While 2010 was the year of Apple.