Hello traders everywhere! Adam Hewison here, President of INO.com and Co-creator of MarketClub, with your mid-day market update for Monday, the 28th of October.
After the bell today, Apple (NASDAQ:AAPL) reports its earnings and this could be a real bellwether report for the market. With all of our technical indicators pointing in a positive direction, I believe that earnings will be on par or better than expected. I continue to rely on the Trade Triangle technology to stay in this market. Upside objective for Apple (NASDAQ:AAPL) continues to remain at the $580-$600 level.
Twitter (NYSE:TWTR) takes to the road for a 10-day road trip to sell big investors on the benefit of their upcoming IPO. Are you going to buy this stock when it comes on the market? One cautionary tales is that Twitter was largely grown and built by venture capitalists and at some time they will want to cash out on their investment. That calls into question the long-term potential for Twitter. Who are the real investors going to be in this stock? I would caution against any Twitter exuberance when this IPO hits the market.
In addition to Apple (NASDAQ:AAPL), I will also be looking at crude oil, gold, and the dollar as we start this last trading week of October.
Have a great trading day,
Adam appears frequently on the following financial news channels as a guest expert. Click on any cable logo to watch Adam's latest appearance.