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Technology Stocks : Apple Inc.

AAPL 269.35

-0.9%

9:35 AM EST

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To: Keith Feral who wrote (148221)	1/14/2013 3:51:19 PM
From: Trader J	7 Recommendations Read Replies (3) of 213176

...and that's the kicker right there. Without a reason for further weakness, traders and those holding are gritting their teeth and trying to get through it as we near lows. When that support breaks, with holders at the end of their ropes, we get the capitulation that is needed to serve as a foundation for the next leg up. This week is also options expiry with earnings next week ... there's plenty of catalyst there to show weak hands and drop the price. It won't take much from this point now. A good capitulation usually takes two events ... the news with volume taking the stock down to a big support level followed by a closely followed day of light uptick activity met with selling that crushes optimism about the support and causes people to start jumping out windows. I think we might be finally set up for that in the next day or two. Tomorrows open I think could be down, followed by a rise to today's close ... followed by big volume selling. Longer term I have no fear but I think there's a great trade opportunity to come here very soon (this week).

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