Not even Apple (AAPL) is able to hold up the indexes so far today. While Apple is positive for the fifth day of the last six and hitting a new all-time high, breadth is running about 3 to 5 negative, the Russell 2000 (IWM) is buried under its 200-day simple moving average, and many individual stocks are wallowing in bear market action.
The response of many market observers is 'just buy Apple,' and that is what many are doing. Of course, it is quite technically extended, and you have to wonder how much longer this lopsided action can continue, but a big part of it is due to buy-backs and allocation flows into big-caps. The individual merits of stocks mean little right now.
I am doing very little right now. I've sold some stocks that are struggling but bought a couple that are down on light volume as well. Until there is better price action in stocks other than Apple, I don't plan on doing too much.
My Stock of the Week, Trio-Tech International (TRT) , does semiconductor testing for EV companies, among others, but it is a thinly traded name, and there isn't much interest at the moment. This is the sort of stock that is very likely to have great earnings in the fourth quarter, but right now, that doesn't matter.
(Please note that due to factors including low market capitalization and/or insufficient public float, we consider TRT to be a small-cap stock. You should be aware that such stocks are subject to more risk than stocks of larger companies, including greater volatility, lower liquidity and less publicly available information, and that postings such as this one can have an effect on their stock prices.)
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