Wednesday, April 23, 2008

Tech Trying To Hold

Mixed markets with tech stocks holding the rest of the market together. After the close, NQ100 and other indexes saw 'buy the rumor sell the fact' action as traders jumped on a 10 dollar pop in AAPL and took the stock lower in after hours trade. The overall market is trying to hold in here but keeps on being haunted by general tired economic news and earnings. Bears and bulls will try to put their tag stamp on the week with the winner getting some decent follow through into next week. Whatever animal is winning by mid-week however will simply be the target of reversal in this range bound environment.