Apple Inc (NASDAQ: AAPL) Sells Off
Says Market Timer Frank Kollar
December 8, 2009 (FinancialWire) (By Frank Kollar)
Shares of Apple Inc (NASDAQ: AAPL) have declined from
all-time highs reached in mid-November.
A month ago we wrote: “Apple is approaching their
all-time highs which are likely to be do-or-die levels
for this widely followed tech stock.”
This past weekend Apple acquired online music-streaming
company Lala.com for an undisclosed amount. Apparently
this deal is not to the liking of shareholders. Interestingly,
shares began to decline several days prior to the weekend
announcement. Hmmmm.
With new highs posted only two weeks ago, will this news
event end Apple’s 2009 rally? If share prices close
below the November 2 correction lows at $185.57, we would
say lower lows are the most likely course.
If Apple holds and rallies from current levels, or we
have a bullish reversal day, then a test of the highs could
again be ahead. But barring that, we would be watching
for a break of support at $185.57 to signal further declines.
The http://www.fibtimer.com Stock
Strategy has a position in Apple Inc.
Kollar is editor and chief analyst at FibTimer.com (http://www.fibtimer.com)
which offers market timing strategies for S&P and
Nasdaq index fund traders, as well as bond, gold, small
cap, sector, ETF and stock trading strategies.
Kollar’s research has shown
that the financial markets are in tradable trends approximately
80 percent of the time. FibTimer strategies define trends
and trade them in both advancing and declining markets.
Caring nothing about what newscasters say or what the
latest economic indicator predicts, trends are where
the profits are, and that is where FibTimer is.
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