AAPL – Apple Computer (Last:142.96)

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AAPL has been so quietly boring and  disappointing that one could almost forget that it is the most important stock in the world, a true bellwether for…everything. It’s on a ‘mechanical’ short at the moment, triggered last week by a rally to the green line (143.27). It shows no eagerness to do the right thing by falling to D=117.87, but it’s going to get there sooner or later. How can it be avoided with sales of the company’s overpriced cell phones facing the deepest recession since the 1930s? There is mountainous supply every inch of the way above these levels, so it’ll be interesting to see how the stock’s evil-genius handlers hold it aloft for distribution.  The time-honored tactic in bear markets is not a lengthy slide sideways, but rather a nasty goosing of shorts just when things are quietest. Let’s watch to see how they do it. _______ UPDATE (Jul 6, 7:53 p.m.): The ratcheting short-squeeze is how, but there’s real supply in the range 147-150 for DaBoyz to choke on, so they have their work cut out for them.