This is a "long" chart? No way-its below all of the relevant moving averages-of course it came down to super solid support, so why wouldn't it be expected to bounce-so far the rally is well below 50% of the decline. If you go into Best Buy or comparable stores count how many tablets and Smartphones there are, and note the prices. The bull case I saw most today was that Apple mobile devices won the race in terms of people ordering other digital items from Apple devices. Does that mean it is selling more devices? Does that mean that people who own Droid-based devices are somehow intimidated or emotionally constrained from ordering online, and if they bought an apple mobile device they would be more inclined to do so? That makes no sense. Tell me about sales of Iphone 5's at $200 subsidized versus Apple 4G available from Verizon stores at 0/unit? Tell me how in a recessionary environment people will shell out $329 (the Mini) vs $199 for a Nook, or $600 for a Retina Display Ipad versus a Galaxy tablet?
Comments
Series7Seeker
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Support levels in March, May, and November. Recent downturn: $700-520 support /2=$90+520=$610. Even if it only returns halfway up, Minimum 598.
UnknownUnicorn13705
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not yet :) but soon
metalhe4der
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I agree with your general consensus, and how the 200ma stands in the way, but I won't consider a trade until I see some bearish follow thru. For all that matters, the AAPL bubble can keep growing with the hype that its untouchable (but we all know how nothing is always untouchable).
jeffreysmith
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dude...just do linear regression and two standard deviations....its not in bear territory...reversion to the mean