Apple Cider Makes Market Feel Better but Is No Cure

Barrons put out a piece on their technical view point of the markets which coincides with our thesis in our Q1 2012 letter that the easy gains for 2012 may have already been achieved.  The Barrons article goes into allot of Technical analysis terms that I currently do not follow but there point is clear, they are taking a cautious approach to the markets.


According to the article here, "The bottom line is that Apple's good news did not forge any technical changes for the better in the broad market. Recent trendline and moving average breakdowns remain in place and the background news—from weak durable goods orders to continued problems in Europe—has not changed."


As we have mentioned previously as April comes to an end the "sell in May, go away" strategy will come front and center.  There are definitely names in our DWCM fund that I am looking to take profits on and even close our especially in our options positions.  It may be yet another volatile summer especially given that nothing is solved in Europe.