Apple stock looks ready to bounce

“Apple (AAPL) shares, which were in free-fall mode all of October, have already spooked investors with a $120 drop from the all-time high in September. So, what will November bring?” Chris Vermeulen asks for Minyanville.

“As we all know, it’s hard to follow through without a proven trading strategy to keep us focused, thus a reminder: The key is to buy when others are selling and then sell when everyone is buying,” Vermeulen writes. “For the market to reset (flush out investors/traders) it must shake as many longs out before it can start rising again. That price-break level [for AAPL] — which also happens to be a Century Number $600 — was where many investors had placed stops. The proof is the volume spike of 40,000,000 shares which clearly shows that stops were triggered once that $600 level was broken.”

Vermeulen writes, “This is a good thing: We want stops triggered because that gives more power to the next rally/bounce.”

Read more in the full article here.

10 Comments

  1. Gosh, go a little lower, maybe 2-3 dollars. Then Apple can get out of the stock market, or hey, decide they want to buy it and run it properly. Maybe Tim Cook is on a firing on all cylinders. A lot of ANALysts sure could use a boot.

  2. time has been changed. it is not like 2009 or 2010. once it broke $600 marginal line, it won’t have a chance to regain. it will be even possibly falling more than you expect. Apple is just turned like other ordinary company after Steve Jobs. don’t expect anything awesome.

    1. Yeah, and Pink Floyd and the Beatles were ordinary bands, Albert Einstein was an ordinary scientist, the Montreal Canadiens are an ordinary hockey franchise.

      Edward, one thing is for sure, you can even reach being ordinary as a troll. Go back to troll school and concentrate this time.

      1. Okay, those are just bad examples. Not sure what your point is, because each of those things were once great but now are over and done and no longer relevant (maybe Montreal?).

    2. Strongest holiday lineup in the company’s entire history. Xmas quarter numbers are going to be insane. Sorry you can’t see that, Edward.

      Me, I just picked up 15 more AAPL this morning.

  3. And I was saying that the stock would drop to $640 and bounce when it was at $700+. I missed getting the bottom right by a long shot.

    I still think it is a great time to load up on AAPL right now though. I am.

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