It was a matter of time… and it appears that the time is now upon us. AAPL has officially broken its steep 2012 uptrend. I'm not sure how fall it falls from here, but it appears - especially with (now) three straight days of significant underperformance - that AAPL's epic 2012 run is at an end. My own feeling is that it can fall further than most expect, but we'll see. I may see with some puts in hand.
***UPDATE: Rather than purchase puts, I just got old-fashioned short north of $600. Test of 50 SMA coming up around $665 or so. 200 SMA is in the mid-400′s. AAPL continues its streak of under-performing the larger market. Hot money in, hot money out… - I'm last copying this to S.A., but had posted this on my blog Friday.
Disclosure: I am short AAPL.