Tuesday, August 21, 2012

Markets' resilience tested

The major market indices hit key resistance levels and reversed course today.  Today is the first major test for this weak rally.  So far this rally has lacked in breadth.  However, the market indicies were pushing higher lead by AAPL and GOOG.  Even the darling stocks AAPL and GOOG reversed course today.  AAPL and GOOG made all time highs before turning back.  However, some of the stocks I bought on this weak rally viz.  AMZN, TWTC, AFFY are all showing gains of 4% or more.  The goal is to not let the winners turn into losers.  Hopefully, today's action is a minor divergence from the continuation of this rally. 

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