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Technology Stocks : Apple Inc.

AAPL 271.63

+0.6%

3:14 PM EST

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To: slacker711 who wrote (145111)	11/16/2012 11:29:24 AM
From: Trader J	4 Recommendations Read Replies (2) of 213172

Downside targets in the middle of a correction are no different than the analyst upside targets during a climb ... but like we were hearing $800+. It's just the thing to do. Gap filling as a TA play can be played but it does not dictate price action. It's just the first place that technicians head to when looking for support. Everyone needs to relax and understand that we are in the middle of a major financial situation right now as we head into the end of the year. No new president, fiscal cliff worries, taxation issues (same thing), capital gains, flagging economy, etc. etc. THere are a TON of sell side catalysts here. I see very little upside catalyst now into the end of the year if the fiscal cliff discussions are not resolved soon. Hedge funds and all ohter money managers are rebalancing and taking gains into the uncertainty. When the volume turns around ... it will make for a nice trade once again and an nice opportunity for long term holders to add some at a 25% reduction in price.

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