Wednesday, March 16, 2011

AAPL Bounce

 We caught a pretty good profit on AAPL's decline, a few of you used options and have a really nice profit. However, the wedge target to the downside (white trendline) has been met.

Here's 5 min accumulation in AAPL, which makes sense with what we're seeing in the Q's. I'd guess we will see a pretty volatile upside correction, it will have to be a pretty scary move up to shake lose the shorts, but once that is complete, it'll offer another great opportunity on the downside.  You could also take the opportunity to ride the bounce on the upside as it looks increasingly likely.

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