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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) Headed Lower 1 comment
    Feb 8, 2010 5:50 PM | about stocks: AAPL

    February 9, 2010

    Shares of Apple Inc (NASDAQ: AAPL) have lost ground since the announcement of their highly anticipated tablet device, the new Apple iPad.

    A couple weeks back we wrote; “shares of Apple are not acting right.”

    Since we wrote that, share prices have declined almost 10%. There are several other negative indicators to worry about.

    Apple shares look like they have had a bearish double top on January 5 and January 19.

    Apple shares have broken below a rising trend support line that has held all declines since May 14, 2009.

    Apple shares have crossed below their 50-day moving average.

    All of these bearish events could add up to nothing more than a normal correction, except that they have occurred right after blow-out earnings and the Apple iPad announcement.

    We are looking for declines to reach $151.57 in coming months, and possibly $136.47.



    Disclosure: no positions
    Stocks: AAPL
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  • GoWhiteStripes
    , contributor
    Comments (28) | Send Message
     
    If you had done your research, you'd understand that Apple will make $12+ a share this year... 12x15 = 180... and that doesnt factor in their cash.

     

    Who's making ridiculous predictions? You.
    9 Feb 2010, 01:45 AM Reply Like
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