Apple Breaks Back Above 50-day Average

My Stock of the Day is Apple (AAPL)

The company had its estimates raised this morning at Prudential, and also received other bullish comments from the analyst community.

They think that the quarter is shaping up to be better than expected, due to strong Mac sales. Also, there is a lot of chatter that the upcoming iTV will be a huge hit and add to sales and earnings.

This is helping the stock enjoy a 4% pop today. The stock is spiking back above its 50-day average, on a big increase in volume. This is a bullish development. I would expect the 50-day to now act as support on any pullback.

Oil is rising back to $60 today, and gold is having a big day also, up more than 3% today to a 9-month high. Together, this is taking some of the wind out of the sail of the tech market.

Other stocks making notable, high-volume moves include:

• NICE
• VMC
• MHS
• FSLR
• TSL
• GEO
• HOLX
• ACOR
• MFW
• MDT
• CROX
• GPI
• BPT
• RNT
• HPQ

long AAPL