Wednesday, July 29, 2009

Cautious on Apple (AAPL)



As I reported last week...

"With the NASDAQ having rallied now 12 days straight... I would also suggest traders/investors exercise caution and use trailing stops or hedge with options." ...as the charts were giving a topping signal in many of the stocks I've reported on this blog.

Below I have an Apple chart, this stock has been resilient in the market...but maybe seeing some signs of exhaustion here. I would use the same cautious approach and either lock in some gains or use option hedges. Near term caution...long term bullish.

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