Forget The Story, Watch Prices
- Posted by JC Parets
- on January 15th, 2013
Monday afternoon on CNBC’s Fast Money program, Chris Verrone of Strategas Research came by and brought some charts along. I wanted to share this clip because I think he did a fantastic job of filtering out all the nonsense and pointing to pure price behavior, both absolute and relative.
My favorite line was: “Apple has no relative strength right now. It has been underperforming the S&P for the last 11 months. We went back and looked at the last 10 years of Apple price history. This is the longest Apple has lagged the market in over a decade. We don’t think that’s how stocks in a bull market act. We’d be fading this rally if we get a bounce off 500 here. We think looking longer term that 430-440 level is a more appropriate area to start looking for a bottom.”
You see how simple yet informative that is? This is the kind of analysis makes sense to me. He also talks about IBM and Semi’s. Terrific job Chris.
Full Disclosure: Nothing on this site should ever be considered to be advice, research or an invitation to buy or sell any securities, please see my Terms & Conditions page for a full disclaimer.blog comments powered by Disqus
J.C. Parets is the Founder & President of Eagle Bay Capital, LLC. He earned the Chartered Market Technician designation (CMT) and is a member of the Market Technicians Association. More
- Weekends With Allstar and Pearlman
- Why Is It Always About What You’re Buying?
- Video: JC Parets Presents At Duke University
- The Three C’s of December Seasonality
- Investment Managers Are Leveraged Long
- Tom Fitzpatrick in NYC December 16th
- Weekends With Phil Pearlman & JC Parets
- The Difference Between Technician & Chartist
- Remember What This Is All About
- The Forest To Trees Approach
Archive by Year