The institutional apes are in this stock up to their eyeballs — with YOUR hard-earned savings! — so don’t expect it to go quietly into the night. In fact, AAPL would become a fetching ‘mechanical’ buy on a pullback to p=155.34, stop 149.65, and even moreso at x=146.80. That’s no guarantee it will hit D=172.40 the next time its handlers goose it knowingly, but it does imply that if a bear market has commenced, it’s not likely to provide an easy path to riches for permabears. That’s not about to happen as long as AAPL, the most institutionally over-owned stock ever, has the worshipful support of Big Money. ________ UPDATE (Nov 29, 6:45 p.m. ET): Friday’s low got within 46 cents of the red line, close enough to set up the ‘fetching’ mechanical trade I’d suggested above. I won’t track it, however, unless I hear from at least two subscribers who got aboard. Don’t wait for me if you’re in, though, since the so-far $500 gain per round lot warrants partial profit-taking. _______ UPDATE (Nov 30,6:02 p.m.): On Wall Street, nothing succeeds like excess, and it was force-fed into AAPL today with the efficiency of a hydraulic piston. To underscore the point that they are completely in charge even when the broad averages are plummeting, DaBoyz levitated the world’s biggest-cap stock by more than 3%, closing it on the high of the day. Shorts left bruised and bleeding supplied yet more buoyancy after the close, pushing the stock still higher into effectively zero supply. It’s a quite clever trick, preventing a bear market from happening merely by targeting a single stock. That’s how the game is played, and although it will ultimately prove to be a losing strategy, we shouldn’t underestimate how long the Street’s criminal masterminds can sustain the illusion of resilience. ______ UPDATE (Dec 1, 6:27 p.m.): The stock sold off hard after poking its snout above 170 around mid-day. It was due for a rest, since it’s hard to pull the global universe of stocks higher day after day, especially when everyone is in on the con and dependent on it.
AAPL – Apple Computer (Last:164.67)