The Worst Week in the History of the Market and Two Important Stocks Barely Fall

Apple and GE each lost a third of 1% at the end of a week where most markets globally were down about 20%. These stocks of course had been descimated earlier, but when they can escape a week like this with so little carnage, these mild loses are worth taking note of.

I am very constructive on Apple. I went by the Apple store here and there isn't even the slightest sign of a pull-back in consumer spending there. Their products are unique. Their stranglehold on the entertainment industry is real. After just touring through Latin America last week, I realize that Apple is finally global (their failure to expand internationally explained their near demise in the 80s and 90s). Most importantly, Apple stayed strong even though it didn't have news to prop it up.

I am a little less constructive on GE. I like the fact that Berkshire is in there, but when all is said and done it is a pretty risky bank. The company's guidance this week still seemed much too rosy and that is why it stayed strong. I'd wait for it to get down into the low teens.

I'd be buying Apple here, and a seller of GE.