Market Leaders Showing Weakness (DJIA, COMPQ, AAPL, HPQ, AMZN, NFLX, BIDU, FCX)

The equity markets are holding onto slim gains this morning after opening weaker. The Dow (DJIA) is up 31 points while the Nasdaq (COMPQ) is higher by 0.6 points. However, it's interesting that many of the market's new leaders are struggling today. Apple AAPL is off $3.01 to $288.15. The stock traded as low at $275 on rumors COO Tim Cook was going to leave the company for Hewlett-Packard HPQ. Baidu BIDU is lower by 11 cents to $103.71, having traded up over $107 at the open. Amazon AMZN and Netflix (NFLX) are lower by 0.03% and 1.78%, respectively. Amazon is up 31.7% in the last month while Netflix is up 28.7%. Finally, Freeport-McMoRan FCX is lower by 0.20% to $86.39. This stock has been the go-to play on the weak dollar/QE2 thesis. It's up 22.7% in the last month. The market needs these names to lead the way if it moves higher. But, given the dramatic moves in these names over the last month, a period of consolidation may be in order.