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) in 2008 and now actively manages money incorporating Technical Analysis and Behavioral Finance into his practice More
- About Those Failed Breakouts in Dow and S&P
- Global Macro Webinar: Thurs October 2, 2014
- Micro-caps Approach Important Support
- My Favorite Currency Chart in the World
- Crude Oil Approaches Very Important Support
- S&P500 At Historic Highs Relative to Gold Miner ETF GDX
- Small-Caps & Mid-Caps Break 2009 Uptrend Line
- BNN Video: Small-Caps, Silver & Dollar Index
- I Get Them Wrong Too!
- Small-Caps Hit 2-year Lows vs Large Caps
Archive by Year