I don't even think that kid is still up, but for all of you, you're missing the only indicator you need ro follow...look at the open interest for calls. This Friday, there are 12000 for 460...7000for 465. That's the brick wall. Next week there are 21000 for 500, that's a brick wall. That's why it was dropped from 700...to clean out the option premiums...you've read the stories. That's how the JEUWpigs on Wall Street make their money...a few JEUWbanks who are the MM for Apple move it at will to wipe out the calls...where do you think eatting a JEUWshit sandwich came from? huh? Think I just made it up?
Stock is good long term. DeMark likes it, Carter Worth likes it. Tim Seymour (Fast Money - (usually pretty sound sound stock pics) he likes it a lot.
If you are trading calls, tough business.
But bottom almost certainly in.Daily MACD has positive divergence.
I don't own aapl but own a lot of the NAZ100. aapl is over 20% of the NAZ
I think we are on an uptrend that will last for quite a while. I think we will see $500 soon and $600 when the announcements start that will be significant catalysts. Maybe Friday if not very soon. The thing is we have very real catalysts coming like the China deal details that will make China aapls largest market, the CFO stated a buyback plan is coming and new products like the TV technology will change the way everyone lives like the iphone did.
Sentiment: Strong Buy