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Strategies & Market Trends : Effective Collaboration - Team Research for Better Returns:
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To: ~digs who wrote (816)4/16/2012 9:57:49 AM
From: The Ox  Read Replies (1) of 8288
 
One day, too early to call if this is a reversal area or not.

AAPL hit the first downside objective and that opens up the next one, 50 points lower. That may seem like a lot but the 3 month low is 455 and that would be another 140 points lower!!

I think we are seeing the distribution at the top to those who are buying the high flyers at this point. No need to step in front of the speeding train on the way down.... Expect some furious short term rallies that ultimately fail over the next few weeks.

This morning's gap and crap is classic, while it may reverse at any time, the early buyers are left thinking ...oops. AAPL down 27 points in the first 25 minutes but now getting the ask.

EDIT - This morning's first half hour is nearly a mirror of the last hour of Friday's action....
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