INTC disappointed, and AAPL flew past estimates. INTC down hard today, though it is not the bellwether leader that it used to be. I can remember times when a bad report from Intel crushed the entire market.
Apple Inc reported after the close and did well. It also has the hot new I-Phone scheduled for June shipment. AAPL is extended and a high risk stock at this point.
Tops are formed when there are a maximum number of buyers--that is usually when the news looks great. I'm not calling top for Apple, and if I did, I would not play it. Picking the top is not a profitable game. It is usually much safer and more profitable to go short on the first rally.
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