I don't cruise message boards much, etc, but there is a total lack of info being disseminated about this VERY key TA fundamental of the 50dma moving up over the 200dma (aka "The Golden Cross"). This DEFINITELY has a very high probability of occurring here with AAPL VERY soon, indeed!!!
As it stands right now, the 536 area will do it. We've come to within 21 points of this recently.
Do not think for 1 minute that the elite squads of TA experts, which Icahn now employs and deploys to help hit his various targets, are oblivious to this VERY key and VERY reliable TA phenomenon?!! As are other key and big name players, too!!
Along with all the VERY bullish pipeline, etc, that IS coming for AAPL (and NOW), this is a VERY bullish scenario with VERY little downside risk, imo. Just take a look at the actual action (not merely the OI or volumes, but the ACTUAL bid/ask movements) of AAPL puts. Not much, all things considrered. And, AAPL has been showing amazing resiliency of late amid a swampy market.
AAPL is likely to rocket past the tricky 515 area quickly and VERY soon. Then keep advancing over the 200dma 536 area cleanly and through 550 with minor resistance and stablize in the 569-574 area!! All of this is likely to occur VERY quickly! I'd expect that to occur well before the end of Sept (569-574).
Question is ONLY this: How "ripe" will this low-hanging fruit get before this advance? How good of a BARGAIN are we going to get because of TOTALLY unrelated market and global conditions, etc, before this thing takes off for good!?
Answer: Probably not much lower. Anything below 483 would be VERY opportunistic. But, it might. And, it may even decline to the 450 area, but that would be astounding! To do that, it would take a pretty dramatic and sudden "panic-like" drop...and there would be SO many HOT bids coming in at that point, the ensuing bounce would be epic! It is just not going to do that.
AAPL is NORTHBOUND!
LOTS of catalysts in the works for some volatility today and some upside resolution between now and tomorrow's open::::::::::
3pm: Bernanke speaks.
4pm: Prez & kiss-up Harwood interview at WH on CNBC.
5:30pm B.O., Reid, Boehner hammer it out at WH.
Sentiment: Strong Buy
What a shake-out.
Be careful to not miss an ensuing GOOD spike up suddenly...somewhere along the line here. Could be good for at least an initial $15-$20 or so before the options and bids are rapidly changed and knocking out your max leverage.
Sentiment: Strong Buy