This morning's market: a noble gas, indeed
4:29 am (Hawaii). You knew it. I knew it. Everyone knew it. The market was due for a breather. Maybe a correction, but more likely, a rest. Nothing goes up forever, especially at the rate of the past several months.
In premarket, metals and I-hate-this-world ETFs like VXX and QID are up. Nothing extreme, mostly up to 1% or less. Almost everything else is in the red, including AAPL. which apparently rallied over 360, but is now back below 358 even though it seems Steve Jobs is going to meet President Obama for dinner. How sick could he be if that's the plan? It comes down to investor confidence and the need to register profits. AAPL is taking a pit stop.
If this is strictly a buying opportunity, I don't want to miss it. And with the opening bell, AAPL is already over 359. Zoomzoom.
Remember, tomorrow is options expiration. The usual weirdness will likely prevail until then.
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