Market Rests, Apple (AAPL) Makes New Highs

Pretty quiet day in the indices as expected, you can’t expect huge days like yesterday all the time. Some stocks are on the move though.

I gave a tier system lesson in Apple (AAPL) on Twitter, on how to tier in and out. Also the buy price for today was on the Price Point Sheet. I went long yesterday, the next buy pivot was yesterday’s high of $607.90 and then an additional buy at the old high of $609.65. Then as it goes up you scale out. I did scale out too early (was done around $612.50) but the strategy worked.

Lots of stock from last week continue. It is hard to get involved with these now at these levels, but this is why we like pivot point.

Baidu (BIDU) $140 to $153

Amazon (AMZN) $186-187 to $206.27

Google (GOOG) $620 to $650

Netflix (NFLX) $111 to $123

LinkedIn (LNKD) $97 to $104+

Sohu (SOHU) woke up yesterday and is having some follow through today.

Sina (SINA), which has been weak, also got some attention.

Ren-Ren (RENN) is a laggard in the group might play some catch up as well.

Banks are taking a the day off as they deserve a well earned break.

Casinos still take turns.

Retail is hanging around.

Rare earth stocks like Molycorp (MCP) are on the move today. I missed them. Marc Sperling was all over them.

Inverse 20+ Year Bond ETF (TBT) doesn’t act right, my stop is $20.06.

Not much else to do as I try and pare down some risk going into the Quarter’s end, but it seems like every sale has been early.

Disclosure: Scott Redler is long LNKD, LVS, CZR, DNKN, BAC, F, INTC, MSFT. Short SPY, QQQ.

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