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A place for friends to gather and view stock market charts, discuss technical analysis and market outlook. What is your Principal Asset? How can it be developed? Each and all should do their own due dilligence and homework before investing. And by no means should you use anything I say or show here as a sole basis to buy or sell securities as everything is for educational experience only.

Thursday, February 7, 2008

AAPL: The downward spiral through 112 to 91

As seen by the charts below our beloved AAPL is in a world of $@&^! And as the title of this posts suggests I believe we may see a brief pause at 112 and ultimately a completion of a poorly formed one year Head & Shoulders top.

Head - 205
Neckline - 150
Sholders - 125

And in this case the smelly armpit of 91 for a trough.

It may be safe to belly up to the trough and be Long Call Pigs for awhile when it finally reaches the low 90's. In the mean time I feel pretty confident we can ride PUTS and be short as long as tight stops are kept. Remember nothing goes straight up or down.






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