It was another unpredictable day for Apple (AAPL). The world's largest company led the Dow Jones Industrial Average and recovered 'Black Friday' losses before stumbling alongside broad markets into the close. Stocks made a surprising reversal of the session's gains as a rebound rally faded in the final hour of trading. The Dow dropped more than 200 points and the S&P 500 fell more than 1% to reenter a correction. Best Buy (BBY) topped the S&P 500 after reporting a 12% jump in quarterly earnings. The electronics chain generated a 1% increase in revenue, driven by increased sales of big-ticket items such as TVs and smartphones. Pepco Holdings (POM) bottomed out the S&P 500 on reports a $6.4 billion bid from Exelon (EXC) had been blocked by the D.C. Public Service Commission.
More from Video
Despite the president's promise of no stimulus until after Nov. 3, there are no signs yet that this is the sort of correlated selling that leads to a deep correction.
Salesforce, Amgen and Honeywell will give a lift to the DJIA going forward.
CAG has hung onto the bulk of its recent gains, and could rise to the $50 area, according to the charts and indicators.
Breaking down an approach to the long side of this biotech stock.