This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Santa Claus Rally Eyed for Online Leaders Apple, Amazon and Google

Forrester Research projects a 12% increase in online sales this holiday season, and Amazon.com should be a major beneficiary as up to 25% of smartphone and tablet owners buy on their mobile devices. Sales of their Kindle products should be on "Fire" and their online Black Friday deals feature video games for Nintendo, PlayStation and Xbox 360 platforms.

Apple (AAPL - Get Report) ($560.91) has a buy rating according to ValuEngine, and was also profiled Oct. 23 with Amazon. Apple set its all-time high of $705.07 on Sept. 21. Apple also announced quarterly results Oct. 25 and reported a slight EPS miss of just 1.4%.

I also updated this profile Oct. 30 but on Nov. 2 Apple failed to hold its 200-day SMA then at $590.33. Last week I had a weekly pivot at $538.56, which provided a level at which to buy on Thursday.

Consider booking profits on strength to the five-week MMA at $586.46. Away from these moving averages I show weekly and semiannual value level at $487.12 and $481.73 with my quarterly risky level at $674.21.

Even Apple announced worldwide Black Friday sales featuring iPads, Ipods and Mac gifts. Last year their deals included $101 off on iMac, MacBook Pro and MacBook Air systems, but all you know about this year's Internet-based door-busters are on teaser pages at their online stores.

At the time of publication the author held no positions in any of the stocks mentioned.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

Richard Suttmeier has an engineering degree from Georgia Tech and a master of science from Brooklyn Poly. He began his career in the financial services industry in 1972 trading U.S. Treasury securities in the primary dealer community. In 1981 he formed the Government Bond Department at LF Rothschild and helped establish that firm as a primary dealer in 1986. Richard began writing market research in 1984 and held positions as market strategist at firms such as Smith Barney, William R Hough, Joseph Stevens, and Rightside Advisors. He joined www.ValuEngine.com in 2008 producing newsletters covering the U.S. capital markets, and a universe of more than 7,000 stocks. Richard employs a "buy and trade" investment strategy and can be reached at RSuttmeier@Gmail.com.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
AAPL $126.91 -0.54%
AMZN $391.18 0.43%
GOOG $533.97 -0.26%
FB $83.62 0.64%
TSLA $209.41 2.02%

Markets

DOW 17,949.59 -85.34 -0.47%
S&P 500 2,097.29 -3.11 -0.15%
NASDAQ 5,014.1020 +19.50 0.39%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs