“Once we hit our bottoming target, I noted in our Trading Room that ‘truth be told, I would love to see it retrace as high as the $580’s,'” Avi Gilburt writes for MarketWatch. ” Many either snickered or just didn’t believe it. Well, today, we have hit the top region of my target on after hitting our target lows.”
“So, the question that still is open in my mind is if we will double bottom with a 5th wave down, or if we are completing a 5-wave move off those lows,” Gilburt writes. “Under both those scenarios, it is quite reasonable to believe that we will likely see a drop back down in the stock beginning in the near term. Depending upon how high AAPL goes now, and it is still possible for it to extend to the $606-$620 region, it will likely drop back down toward at least the $553-$565 region.”
Gilburt writes, “However, it is still equally possible that we can drop back down as low as the $515/17 region once more before we begin the bigger rally.”
Read more in the full article here.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Joe Architect” for the heads up.]
Translation: AAPL could go up, it could go down. What do you think, 7 figure salary with bonuses?
This gives new meaning to the phrase, “The truth hurts.”
±1
Excellent!
In other words….
“How many more swings between the $5xx – $60x range before the next rally up (beyond 700?)”
It seems reasonable to think that because of the current/ongoing/coming holiday season and, somehow that’s what I’m expecting, a rally up at some point in the next 2, 3 months.
As always…. We will have to wait and see.
Good luck everyone!
So, if I understand him correctly, AAPL can either go up or, ummm, down? Wow. Hadn’t thought of that! /s
God I wish I could get their salary while being so stupid.
Yes, Clueless and paid to be clueless. The $580 was not even at the 200 day moving average and any inexperienced new guy could have guessed at $580.
This is sad that real people with real money look to these clowns for advice.
Maybe it will go sideways.
Exactly, it’s called hocus pocus wave theory, then connect the dots after the fact and you got a wave
Similar points made here:
http://seekingalpha.com/article/1018071-apple-physics-what-goes-down-must-go-up
What goes down must go up.
I think that covers most eventualities!
I can’t imagine spouting such with a straight face.
Pablum for idiots.
So what advice is he giving?
So, much like numerology and Nostradmus, hindsight is pretty much whatever you want it to be.
Genius!!!!
It will be going much higher soon after the China deal is done. That simple .
Is anyone doing anything Dec.21st?
Looked at my penis this morning. Said Apple will go down, then up, then down, then up, then ……
So what do you have dangling from said penis, a yo yo? Sheesh, analysts all over the place and you have to go penile on us.
Didn’t you guess? “x” IS an analyst.
He just told us how he arrives at his predictions.
Again, someone saying Apple shares will drop again. Why should Apple constantly need pullbacks in share price with supposedly so much upside? This is the freaking holiday quarter. For what reason would Apple shares be pulling back? The money is definitely rolling in.
Google up strong today on hardware business expansion. Wall Street sees it as a challenger to Apple notebook sales. This is what puzzles me. Google, Microsoft and Amazon are all going into the hardware business. They’re all trying to fill out their revenue stream. They’re trying to move into Apple territory. Whether they’ll succeed or not only time will tell.
Meanwhile, what the heck is Apple doing to fill out its own revenue stream? Absolutely nothing that’s showing up on Wall Street’s radar. Apple is sitting on all that reserve cash and doing absolutely nothing to challenge those companies. No major cloud services. No search services. Apple doesn’t seem to have any aggressive tendencies at all and I’m concerned that’s going to keep Apple’s P/E from growing long-term. Every time those rival companies take on a new business, their share prices go up. I’m wondering if Apple will ever make any large acquisitions or start any new revenue streams. It’s just odd to see smaller companies stretching their legs and Apple just sitting back and being stepped all over. Apple’s excessive cash hoarding really doesn’t seem to be doing much good for the company.
Maybe it will go sideways.
I would like to see Apple do something with that cash. That’s too much to just sit idle. I don’t want to see any crazy acquisitions but I agree, they do seem to be getting further and further behind in some areas. The large stash of cash is a holdover from Steve Jobs. I don’t think Tim is paranoid. I think there’s a possibility that Apple could pay a special dividend before the end of the year. Many companies are doing just that to help shareholders worried about the fiscal cliff. Apple clearly needs help in services. They’re the best in hardware and software but they suck at services. Perhaps acquisitions could help in those areas? They don’t seem to be able to pull it off by themselves.
Like start a bank,
Yup, stupid analyst! Dont listen to them
AAPL will definitely make a new high!!