Apple, it seems that we agree, I think there is a strong possibility that once this summer rally expires, we may revisit the lows and even go a little lower. However, I do not think this rally has expired yet. For those of us that feel very comfortable about the long range prospects and do not intend to sell on temporary peeking action, they may want to consider selling covered options (depending on their view, the 17.5 to the 22.5 if this rally does indeed gets us above 20.
I for one, think that the setback Friday of the SOX would have given CYMI bears an ample opportunity to do damage, but heavy buying always came back in at the low 18', thus my conclusion is that there is ample strength in this stock over the next two to four weeks, and I intend to ride it higher. I think that the SOX is going to regain its forward momentum (I have a target top around 280 on the SOX) and with it, CYMI.
Zeev |
