My guess since last May has been that the price of Apple Computer (AAPL) would revisit the 50% price line at the 50% time cycles and had suggested shorting it since that time. Since price has moved down to near this level, I believe that continuing the short position is unwise at this point in time.
As long as price remains above the 1:1 ascending Gann angle I believe AAPL is in a strong position from here.
Tags: AAPL · Gann Angle Fan · Market Cycles · Square of Range7 Comments
7 responses so far ↓
Sold afterhours last night. Looking to re-enter.
Robert
damn Andy…128.18…. now lets hope this low hold til Monday at least…
actually, Andy, you did better than that: look at this
http://boards.fool.com/Message.asp?mid=26669957
I have had 126-7 in mind since that post. Did not buy today.
looks like 1136-1060 lies our next set of resistance levels, but Wamu is gonna go belly up next and then, we will hear about trouble in the big boys next, Oh look Maria is talking about Morgan Stanley,,, well, there goes another one… will Jamie Diamond be next? remember life in credit card land is not good right now and chase bought bank one, bear stearns,and bank one bought first usa, one of the largest credit card banks, and chase is still trying to clean up bank one’s mess, soooo….doesn’t look good guys…. Short selling rules ,goverment rules, hummmmmm…Andy, XLF is trying to catch up, doesn’t look good. $NDX is in open water, next stop 1440’s, the only true chart in all the index’s. Your doing a great job, thanks for everything. have a good night.
Libby - Yes those look like the next levels if 1150 breaks. I guess it is up to the Treasury to decide how low we go at this point…
AAPL was an easy chart to read. The RIMM chart was more difficult, as is GOOG.