Apple just went too new lows... wth is going on!!! its dragging down the market we should be going up with QE3.
the ipad mini is a flop, its a pure cannibalization product that lets its current customers spend $200 less.
I doubt it has much to do with AAPL itself but more to do with PM's being overweight and wanting to lighten up going into next week, plus it is very liquid and an obvious source of funds for HFs wanting to dial back a bit in wake of Sandy.
When I show a daily chart I use the 200 day MA, and when I show a weekly chart I use the 40 wk MA. They're considered almost equivalent (40 X 5 days per wk = 200).
hes just building his thesis for his short apple trade and trying to do it at your expense.. not constructive.. aapl has done this before.. overpriced iphones.. it made the ipod obsolete with the iphone... yes it does cannibalized it self.. it was part of Steves strategy.. read the book..
im very unhappy with the reading comprehension levels on this site. for like the 6th time i dont have a short apple trade, i have a short apple thought. i have zero money on apple long or short. i have stated many times, it just makes me feel better to be a part of our society when apple goes down. and one more thing, i dont need to build my thesis at all, the market is doing that for me just fine
Still see it as an orderly pullback (now at -18.48%), and the long term uptrend remains in place. Still think we'll have a post election/Xmas rally, and the funds will pile back into AAPL at bargain prices. Call me any names you want, and I know all about "falling knives", etc. Added to the long position in AAPL today at 581.80 + 574.96.