Thursday, December 3, 2009

Apple (AAPL) Update

Uncanny, I was just working on some charts (one being Apple) while watching CNBC's "Fast Money". Dennis Gartman, of the Gartman Letter noted on "Chartology" that Apple (AAPL) is sending a signal, that it's turning lower and trendline is broken and one should be "less involved". I disagree as a matter of fact one should add to their position here and use $190 (daily close) as a tight stop. Looking back a few years~ Apple was at $190 and topping out going into December '07. while in December '08 is was bottoming in the $80s. Is it topping out now? Ask yourself this...what is the outlook for Apple in 2010? How will iPhone sales be? How about the roll out of 4G? Talk of an Apple Tablet? Not to mention global smart phone sales are expected to grow by 10% globally in 2010 and how about China? Just walk into your local mall and Apple Store...use weakness in the stock to add or enter! ~read more~

*click chart to expand image

No comments: