Wednesday, February 15, 2012

AAPL...Was today the TOP?

I do not believe so. Today was an excuse to take profits. The stock has run 37.60% in approximately 9 weeks and needed to take a breathe. Antsy traders got an excuse to take profits and the bears piled on short positions spooking other weak holders into selling. While the stock did seem to exhibit characteristics of a climax run, the action was too flawed.

Climax runs tend to culminate