Tom DeMark definately knows his stuff. HOWEVER look back a little. Friday Jan 11th data closes at 520. DeMark sees AAPL is at or damn near confirmation of trend reversal from 9-13-9 - SUPER BUY SIGNAL. Cohen and the rest of the boys don't pay him for "public" announcements. They got the call first. Sunday night, evil rears its ugly head and all hell breaks loose for 2 days. Then, when everyone is in position - DeMark goes public. POP! Option expiry is $520 target - get rid of the $480 liability by crushing it and selling a ton of $450 Puts with Volatility through the roof and pick up everything you can towards $520 at the bottom. That's how they did it.
He is the man! He also said don't be short at earnings because aapl will blow out the quarter. I think Cook will announce China Mobile deal at earnings which will give all analysts bear and bull a reason to raise all estimates for 2013 and 2014 and give major confidence in the company and should get us over $1000. Then when they come out with the new products TV Watch Car etc...just icing on the cake! Future is bright!
Sentiment: Strong Buy
I don't remember ever announcing at earnings. If earnings are good, there would be no point in announcing then. He would be smarter to wait and announce the week after when people get bored with $580-600.
i predict the gap will fill and selling pressure will resume today. downward momentum has now reached intolerable levels. you will not be able to hold onto the stock with each agonizing downtick.