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Technology Stocks : Apple Inc.
AAPL 273.85+0.5%Dec 24 12:59 PM EST
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To: SteveHC who wrote (12058)4/22/1998 11:21:00 PM
From: eric siegel  Read Replies (1) of 213177
 
Technically,aapl is at the crossroads here.The 24 5/8 low made on 3/23 and 4/8 has held.The 24 11/16 low on Apr 8 is the benchmark.The lack of premium in the leaps is a troublesome sign which could mean lower short term prices.I.m short may 30's,looking to cover around 24 7/8 or so.A good hedge,sell may -jun 30's,buy may-jun 25's if stock cracks 25.Or if long,buy protective puts. If Apple would announce that they are now an internet stock,it would be around 80-90 now.When the internet stocks are the market leaders you know the party's almost over.
Eric
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