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  • silverhorseshoe269 silverhorseshoe269 Nov 19, 2012 5:06 PM Flag

    From Nansen Investments: APPLE IS BACK!

    The Beach Ball has finally headed for the surface (574 and a 13 PE Ratio and 582 which is the 38.2% fib level). It is traveling at such a great rate of momentum, I expect the beach ball to thrust through the surface of the water and hit the 600 area (Huge psychological marker) and the 605 area (50% fib area).

    The most brutal sell off in Apple history except for the 2008 financial crisis is behind us. It is now in the history books. We will talk about this sell off for years. I will write a synopsis of what it means, but I want to gather my thoughts before I do. In the meantime, give thanks this Thanksgiving. Apple is back.

    This rally means the negative news cycle ends. No more negative Apple stories; we will start getting really positive news about Apple now. Why? Because the trading desks and the Hedge funds are all long and they will start producing wonderful news about Apple. This virtuous cycle will last until Apple tops out sometime in December or January. I want to give a shout out to the Mutual and Pension Funds. These elephants started buying Apple Friday morning in volume. I saw that. These elephants all jumped in the bathtub at the same time on Friday morning and they created quite a stir. The Hedge Funds and Big Bank Trading desks quickly sensed the elephants presence and responded by going long and covering their shorts at the same time. This caused the vertical lift off you saw today. It was a thing of beauty.

    I’m still sticking to my 689 by Christmas. Let’s take one day at a time until we get there. I fully expect some kind of pullback or consolidation at the 600-605 area because that is the 50% retracement of this decline and 600 is a Big Psychological number. Remember, Apple will need a rest after rallying for $100 or 50% of it’s decline.

    The Biggest change will be the shift in the sentiment. I have been hearing positive news about Apple for weeks. None of that positive news has played in the national press. You will now see countless positive stories because we have the Hedge Funds and Banks on our side; not to mention the elephants.

    Happy Thanksgiving to all from Thailand. I usually take small naps during the market hours as the market opens at 9:30 PM and closes at 4:00 AM. I was so excited tonight I stayed up all night. The sunrise is just starting to lighten the sky here in Southern Thailand. I am going to go for a swim and then I will have my usual breakfast of an egg omlet and Pad Thai. The Pad Thai will be the best tasting Pad Thai I have ever eaten. Congratulations to all you Apple believers and Happy Thanksgiving.
    - Silverhorseshoe

    Sentiment: Strong Buy

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