Monday, October 6, 2008

Apple has a strong reversal

Update -Oct 16, 2008--
Look at the recent BUY signals in AAPL- in blue in the chart. (There was on Sell signal too when it opened up in Gap at 116 and closed lower- as shown in Red)
Also compare AAPL to Dow Jones and you will see Selective buying going on in this stock.

Dow broke below 10k today! What a scare out there!! At one point, the Dow was down by around 750 points.
APPLE (stock: AAPL) showed a nice reversal today (Yes, I was wrong earlier on AAPL when a similar signal failed. PFP signals do fail, like everything else in the market and that is the reason we always keep a stoploss)

Apple computer stock AAPL opened in a down Gap at $92 and then went down to $87 but toward close, it was around $98. Volume was also very strong. This gives us a trading opportunity to buy Apple with a stoploss at today's Low price



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