AAPL – Apple Computer (Last:178.85)

It’s refreshing to see AAPL get the crap kicked out of it for a rare change. And there’s more to come! But don’t think that the chimps that this buy-and-hold no-brainer has made look like geniuses are not salivating over the prospect of accumulating more shares at ‘bargain’ prices, and of running the stock back up again without expending much effort or capital. Gap openings induced by short-covering will make that possible, just as they have since early in 2020. We can attempt to bottom-fish, but not before the correction comes down to at least p=172.24, the Hidden Pivot midpoint support of the reverse pattern shown in the chart. This implies the broad averages have further to fall as well.  If the stock ultimately plummet to d=146.25, that would represent a 26% correction off the all-time high — a mini-bear market within a longer-term bull that projects as high as 253.96. _______ UPDATE (Aug 7, 9:54 p.m.): Are DaBoyz awesome, or what??  They don’t call them the Masters of the Universe for nothing. It seems They have finally figured out how to harness AAPL’s lunatic energy on the way up while cutting it loose when it falls. If you’d told me that a $3 trillion stock was about to plummet by 10% in just a few days as the broad averages sad idly by, twiddling their so-to-speak thumbs, I’d have said “No way!” And yet… 

  • Alok Mittal August 12, 2023, 5:49 am

    It seems They have finally figured out how t0 harness AAPL’s lunatic energy on the way up while cutting it loose when it falls. If you’d told me that a $3 trillion stock was about to plummet by 10% in just a few days as the broad averages sad idly by, twiddling their so-to-speak thumbs ….

    Far too many spelling mistakes for comfort.

    &&&&

    Okay, smart-ass, how about you and I go head-to-head in a 100-word spelling bee for $1,000? RA