Avoiding Mr. Market’s Deceptions

Mr. Market seems to be enjoying playing against our expectations more than usual lately. On Friday, for instance, he left us with an ebullient finishing stroke that all but promised even higher prices on Monday. Lo, disappointing earnings from Caterpillar out before the opening set both the company’s shares and the broad averages reeling. That’s why I’m suggesting paying particular attention to a bullish price benchmark in AAPL (see below). Can the stock possibly attain it? Seems unlikely. But AAPL has looked so bad lately that I can’t help thinking it is where Mr. Market will to try to bamboozle us next. We’ll be ready if he does.