Revenge of the Apple…

Posted on Apr 26, 2012 by in Letters

It didn't take Apple long to justify our last letter.  One day.  The huge earnings gap stuck a finger in the eye to doubters, and the long term approach we advocated was instantly vindicated.  The technical lesson here is that short extremely sloped trendlines have consequences appropriate to their length and slope.  This doesn't mean the turbulence is over in Apple, but  it does emphasize the importance of prudent long term stops. For instance, look at the other trendlines in the stock.

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