Friday, April 5, 2013

AAPL Equity Position

"IF" I had the room, I would strongly consider an AAPL equity long. The positive divergences of recent and price action make me think the base in AAPL is actually quite a bit bigger. I suspected this longer term divergence was for a move that was not ready yet and wouldn't be until AAPL made significant new lows, now I suspect it's all part of the same base and this suggests a strong move up which would be worthwhile even as an equity position.

AAPL 2 hour positive on a double bottom, this kind of base could support quite a move to the upside. I would still treat this as somewhat speculative though based on the longer term or bigger picture market indications.

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