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Frank started market timing in 1982 when the Federal Reserve cut interest rates and sparked the 1980’s bull rally. Realizing that this rally could have been forecasted, he began to search for indicators which had similar forecasting ability. Within a year, his first newsletter was launched,... More
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  • Shares of Apple Inc (NASDAQ: AAPL) Not Acting Right 1 comment
    Jan 27, 2010 6:48 PM | about stocks: AAPL

    January 28, 2010

    Shares of Apple Inc (NASDAQ: AAPL) have seen huge swings this past week as the market was served first with a greater than expected quarterly earnings report and then on Wednesday, the announcement of the highly anticipated tablet device, the new Apple iPad.

    Here is a question: With blowout earnings this quarter and a new apparently well received Apple iPad announced, why are shares of Apple up only 1% on Wednesday? And why are they not at new highs?

    Something may be wrong in Apple land.

    If shares can close above $215.04, their prior rally high, they should reach the next resistance level at $222.76. This is not much gain potential considering this stock is not acting right.

    Of course tomorrow the stock could rally and the above question will be moot. But bullish traders may want to take some chips off the table until some strong upward momentum is reestablished.



    Disclosure: The www.fibtimer.com Stock Strategy has a position in Apple Inc.
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  • Michael Kudrna
    , contributor
    Comments (235) | Send Message
     
    Is something wrong in AppleLand or are buyers scared to jump in due to the overall negative market sentiment? I'm leaning towards the latter.

     

    I'm hoping Apple dips below $200 with the excitement subsiding as I sold most of my position into the trading highs the past 2 days and hoping to buy back lower for the long term. Not many stocks can perform like Apple in a poor economy...I feel safe with my money invested in Steve Jobs.
    27 Jan 2010, 07:36 PM Reply Like
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