The apple has come home to roost.

Posted on Feb 16, 2012 by in Letters

We remarked a short while back that Apple appeared to be going parabolic.  It's hard for us to imagine that there is a trader out there who hasn't heard our rant about parabolic curves -- that they ALWAYS collapse.  Today Apple exhibited a classic reversal day.  Opened up strong, ran up more, then turned and finished  down 2.31% for the day.  Also the day is a key reversal day.  The results of this should be a sell off quite possibly back to 445 or, actually, who knows.  Since this is nothing more than a burp in the life of Apple dip buyers will be waiting eagerly.  For the record the stop we have calculated working off the Basing Point of 1/24 (419.55) is 398.57 (5% filter).

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