AAPL – Apple Computer (Last:250.44)

Apple Computer (AAPL) price chart with targetsApple not only shattered the trendline support we’ve been monitoring, it did so with a gap-down opening that left no doubts about sellers’ seriousness.  We should now expect to see a move back up to the support, which comes in today around 247.63, rising to around 248.03 by day’s end. It’s hard to imagine Apple’s phenomenal marketing success petering out as long as Jobs is in charge, but perhaps the charts are predicting a creative dry spell?  Expectations were pumped pretty high, so it wouldn’t take much of a fall-off in profits to trigger a nasty readjustment. If so, a Hidden Pivot at 227.09 will be a logical correction target, subject to dithering near 244.99, a Hidden Pivot midpoint, in the days ahead. Alternatively, it would take a thrust this week to at least 258.38 to reverse yesterday’s damage._______ UPDATE (2:13 p.m EDT): DaBoyz have tipped their hand, brazenly demonstrating to anyone who cares that any story-driven selling in this stock is just a shakedown to steal shares at fire-sale prices from widows and pensioners. Apple quickly reversed this morning after a manipulated gap-down opening, and then the stock made suet of trendline resistance with a so-far $10 rally off the lows.  It’s no surprise that AAPL has attracted Wall Street’s criminal element, since it is one of the very few publically held American companies with a credible success story to hype.