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Dow Fights for 13,000, Apple for Half a Trillion
The Dow Jones Industrial Average is once again battling the 13,000 level. This is the third consecutive trading day it has been above that level on an intra-day basis. The big question is, will it finally close above that master level? As it battles this level, psychologically it becomes bigger and bigger. All signals point to this day being the final chance for the Dow to close above 13,000.
The market is clearly being headed by technology. Apple Inc. (AAPL), which makes up almost 20% of the NASDAQ 100 is pushing higher again. The stock is trading at $532.40, +6.64 (+1.26%). The market cap of this mega goliath is approaching half a trillion dollars. The major talk today is of the iPad 3 being unveiled next week. This may be a classic sell the news event for a short late this week or early next week.
Other stocks leading the rally today are Microsoft Corporation (MSFT), Google Inc (GOOG) and Intel Corporation (INTC). They are all up more than one-percent on the day and leading this market higher.
Gareth Soloway
InTheMoneyStocks.com
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