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John Nyaradi is publisher of Wall Street Sector Selector, Your Home for ETF Investing! (www.wall-street-sector-selector.com) a financial media site focused on news, analysis and information about exchange traded funds and global financial and economic developments. John writes a weekly guest... More
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  • The Bear Bites Apple 0 comments
    Nov 14, 2012 6:10 PM | about stocks: AAPL

    Apple Computer is in a bear market. Here's why it matters and what you need to know:

    On Sept. 19, Apple (NASDAQ:AAPL) was trading at $702 per share. Unfortunately, the Bear came along and took a big bite out of the world's largest company by market cap as the company's stock closed on Nov. 13 at $542/share, down roughly 23% in less than two months.

    On a technical basis, Apple now trades well below both its 50- and 200-day moving averages and a giant head-and-shoulders pattern suggests further possible downside action with next significant support in the $375-$400 level, some 25% below current levels.

    How did Apple fall so far so quickly and what does it mean for us, whether we're Apple investors or not?

    Read the rest

    Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.

    Stocks: AAPL
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