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Should Apple Investors Feel Good About Yesterday's Rally?

You may well be right, but then again, aapl may continue to outpace the market through early December, making the next broader market pullback, as continued volatility is expected, less severe on aapl than the one we came out of yesterday.
Aapl could EASILY revisit 80 and below again. But when, and for how long?
Consider a return to the old obvious: It's no secret that investors and traders are well aware of how well Apple Inc. is positioned for a market recovery in whatever (volatile and gradual) form it may come in, compared to most everything else out there. It's no secret that aapl is a premium now at any perspective.
It's no secret that there's a good chance Apple Inc. beats the street next earnings by a large enough margin to pop the stock.
It's no secret that aapl has a whole lot of money in the bank, no debt and huge growth potential. It's no secret that that aapl is an extremely compelling long term play at this price despite your warnings above.
Based on the obvious, reactionary assumptions behind your advice, including the issue of timing the market for shorts, I would warn both short and long term traders to consider the contra position, especially since I suspect this is the direction big money and hedgefunds shifting to as of yesterday.

Apple Falls Flat as Market Rebounds - Is There Really Investor Confidence?

Zack, I'm afraid charts wont help anyone see through the cloud of ash the market is throwing up now. To understand what forces are effecting aapl price, where it may be headed, or otherwise, one should continue to focus on the well documented demise of Hedgefunds. Why? Because aapl is held by many of the remaining big hedgefunds in a higher percentage than other stocks, and although we have seen some hedgefunds reducing their positions in aapl, it is still a favorite and percieved as a sell to leverage other loses. I would encourage people to do some research to see who is holding aapl pie and what the trend looks like i.e has the aapl dumping stopped? The sell off, and recent buying, at the last minutes of market trading have been Hedgefund driven, so it logically follows that aapl will reflect the fund's intent.
Apple Inc's solid fundamentals make it more of a target for short term profit taking in this downward market: Sell now going down, catch it on the way up. What Friday reveals is a collective perception of any rally now as ephemeral. Eventually things will turn around, and if your colleague, Andy Zacky, is right, that may happen in an explosive fashion come next earnings report in January. If Andy's numbers are close to reality, they will be too compelling to sell on, and there will be a frenzy to get it at that point.