When I used to trade equities, I always looked at how an individual stock performed against its peers in the same sector, and then how that sector is performing against the index.
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i'd get long AAPL Jan2012 calls / call spreads anywhere in between 362 (200-day MA) and 354 (support level), they will gave a big Q4, still having trouble keeping iPhones in-stock.
as far as sectors and indexes go, AAPL is a large chunk of the NASDAQ index so if it starts moving too far away without AAPL then a mean reversion is overdue, which makes me even more bullish about AAPL, or bearish about the QQQ, or both (pairs trade)
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TKx above Kumo = weak bear sing
T and K flat = bearish
C. lower highs, but raps the price for bullish sing as on 11/16
Cloud is narrow, look out for break outs below 384 or above 400, we at 384.77, bearish sing