04/20/2012: GARY ON NATIONALLY SYNDICATED INVESTORS EDGE RADIO BROADCAST

Byaaronmat-admin

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https://archives.warpradio.com/btr/InvestorsEdge/042018.mp3

JUST LETTING YOU KNOW

Crosscurrents

I’ve received no less than 50 emails today on Apple (APPL). It was down another 14 today. It went from 640 to 570, back to 610 and back to 570.

It’s correcting. That’s it. That’s all I can tell you. The market will dictate policy come Tuesday on where it’s going to go.

There’s a justice department deal going on with Apple right now which is potentially negative.

Verizon came out and there was talk that the number people signing up for Apple iPhones through Verizon was not as much as expected. That’s out there.

But as for Apple, there is nothing wrong with it except that it went too far, too fast and decided to pull in here. And we’ll get a better idea on Tuesday.

And, of course, Apple has a significant effect on the Nasdaq-100. I think it’s about 13% on the Nasdaq and I think even on the S&P these days.  So that was what drove today – a disappointing day even though the Dow was up 65.

If was to sum up this market, it would be one word: Crosscurrents. While some things are heading north, a lot of things are heading south. And there’s typically not a lot in between.

While the Semiconductors are breaking down:

  • A bunch of Housing names held the 50-day moving average today.
  • Some of the apparel retailers broke out today.

While the Financials are getting into some trouble, other areas are catching a bid.

I think we’re going to see more of that going forward.

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Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.