Tuesday, May 31, 2011

Rise and shine

9:36 am (Hawaii) Been in and out of sleep since early morning. When I did check my live charts, it seemed like something was wrong. Maybe my connection was off. Nothing moves this weakly, right? It does, actually, at least with XG, which has been locked around 11.35 for most of the day. In fact, both the slow stochastics and MACD look like one beach and one big, big wave early in the day ... followed by nothing by suds. Whitewash. Nothing surfable.

AGQ had more action and that's saying a lot since it opened higher, dripped down to 202 and then went back up to 206 ... that's usually enough action for 30 minutes in AGQ. But that's been the day so far.

In fact, with the news about Apple officially announcing the arrival of its iCloud, PLUS Steve Jobs being part of the presentation on (Monday) June 6, there may be a shift of some magnitiude this week for traders. PMs will still have their place in the pecking order, but AAPL's action today was significant, going from Friday's 337 close to 343 for most of today. The past couple of hours, AAPL has risen above 346 and is approaching 347 on heavier volume.

It's an "expensive" stock for some quick traders, but when AAPL gains steam, it's a phenomenal ride.

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