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AAPL: Waiting And Be Patient

|Includes:Apple Inc. (AAPL)

In the StockTalk posted Monday 4/16 before market opened,

I pointed out that AAPL stock price faced the first real serious

challenge since the uptrend started on 12/5/2011. I must

admit that although I did expect AAPL to go down, but

certainly did not expect its price to drop so quickly. As of 4/23

close, it is down 5.5% since close of 4/13 vs S&P 500 which

is down 1.3%.

The following daily chart shows AAPL has a indecisive

doji pattern on 4/23 and is also near support.

20120423_AAPL_Daily

AAPL will report earnings after market close today (4/24).

So one of the most anticipated earnings announcement is

less that 12 hours away, and the earnings results may

determine the direction of AAPL's next move. Good luck to

every bulls and bears :-)

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

Additional disclosure: I may initiate a volatility based options position in the next 72 hours.

Stocks: AAPL