News of the House meeting on Sunday, December 30th, has sparked hopes of a Fiscal Cliff settlement before January 1, as well as a rally in the market. In terms of handling AAPL and ALXN, one can use the stops we discussed earlier today, or one could back off and see how this rally plays out. It potentially could turn out to be a shortable rally, so it is critical to watch how these stocks act as they push up towards areas of overhead resistance. In AAPL's case this would be today's intra-day high at 513.97, and with ALXN the 50-day moving average at 75.43.
SSS - Handling a News Rally
|Published:||27 Dec 2012 20:14 ET|
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