Linda,
Apple almost recovers back its loss last week as other big tech stocks
did today. It looks like tech stocks are going to move upward again
injected by new money from funds based on CNBC report.
Although Apple doesn't have momentum like some internet stocks, its
stability as well as PE, EPS, SE, etc. should be very attractive to
investors. Besides, based on those fundamental values (PE,EPS,SE),
shorts need to think twice for their strategic plan in order not to
lose too much.
From these two days activities, the pattern is similar to short's
covering action. I think the similar activity will last at least
another couple of days and hence we have a chance to see its
continuously moving up to challenge the yearly high.
If anybody doesn't believe the trend, he/she should look into Yahoo's 3-months
chart. It'll clearly show you the upward trend is just beginning
from yesterday and the upward slope is steeper than before.
Cheers,
Phil
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