Apple Inc. Message Board

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Technology Stocks : Apple Inc.

AAPL 255.53

-1.0%

Jan 16 9:30 AM EST

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To: OrionX who wrote (54729)	7/20/2006 2:12:56 PM
From: Cogito	Read Replies (1) of 213182

>>Technically speaking, doesn't anyone question the fact the stock has risen 20% since Monday? While the stock may rise in the long term, can't the stock be overbought given such a big move in such a short time?<< Orion - I think it's important to look at the context of the move. The stock was way oversold, in my opinion, due to fears that turned out to be groundless. While I generally expect profit taking to follow this kind of spectacular jump, I don't think it's likely that we're going to see a full retracement. To me, it looks like the bear trend has broken, and we're back in bull mode with a vengeance. Just my opinion. Of course I am talking only about AAPL, and not the market in general. A generally bad market will weigh on Apple going forward, but there seems to be plenty of rocket fuel available. - Allen

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