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Selloff Hardly a Disaster, but Apple Is a Volume Monster
09 Apr 2012 EDT - CNBC.com
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Low-volume selloff

: Is this a disaster, or an opportunity? The jury is still out. Stocks have rallied off their midday lows as the dollar dropped near noon ET.

While overall volume has been poor this year, Apple is sucking up what little volume there is. You’ve heard the complaint that Apple is taking up a bigger and bigger share of the market capitalization of the major tech indexes. Less noted is the volume analogue: As Apple’s price has moved up some 50 percent in the past few months, the volume has also moved up, almost as much.

Apple’s six-month trailing volume average is 17.5 million shares, but since February it has been over 20 million shares most days and the 10-day average volume is now up to 22.4 million shares.

Elsewhere:

1) The bifurcation in homebuilders and materials I talked about today is happening. Move-up homebuilders like Lennar are not down as much as lower-priced builders like KB Home.

The do-it-yourself remodeler still strong: Sherwin-Williams is UP this morning as it dramatically raised its first-quarter earnings estimates (from $0.56 to $0.74 to $0.92 to $0.95) partly on a 20 percent increase in paint store sales. Companies more exposed to homebuilders like USG and Masco are down three percent to four percent.

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SHW News & Analysis
 Early Movers: GPRO, MSFT, SHW, HOG, WMT & more - 12 Dec 2014 EST - CNBC.COM
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