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Technology Stocks : Apple Inc.
AAPL 278.28+0.1%Dec 12 9:30 AM EST
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To: Phillip C. Lee who wrote (10351)3/30/1998 10:36:00 PM
From: Moominoid  Read Replies (1) of 213176
 
My thought on Apple's trend is just opposite of yours. So far it can stand at above $26 level, which is a miracle and strong uptrend indication. It is typically a consolidation pattern this week expect
Tuesday's spike. If you look at yearly chart, there are special three days (8/6/97-8/8/97) when the most heaviest trading in Apple's stock history, with almost 87m shares changed hands. If accounting for repetitive entries during those three days, we still have at least 50m shares deal done, which represents more than 1/3 of total outstanding shares. It will be amazing if it doesn't take a little longer time to consolidate within $26-$29 range. It seems to me that this period is about to finish and ready to move up next week before Q2 report anticipation.

Thanks for your comments. I'm still long on Apple just reduced my leverage. The pattern to me looks a lot like last late August-early September which ended in a collapse the day after the earnings figures were released.

David
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