Despite some pricing missteps in 2011, the inherent strength of this brand and its ready adaptability to multiple platforms and devices suggest it will remain a growth brand in a highly volatile category.
The banks remain a source of strength in this market, and are holding us up despite weakness in AAPL. Bank of America (NYSE:BAC) extended higher again yesterday, but now it is difficult to add to longs after the recent move.
This gap may explain the strength of the euro, which has risen against the dollar in recent weeks despite endless euro-zone sovereign-debt worries (see chart).