Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Playing the QQQQ with Terry and friends. -- Ignore unavailable to you. Want to Upgrade?

To: MJ who wrote (526)	6/1/2005 8:50:11 PM
From: Walkingshadow	Read Replies (1) \| Respond to of 4814

You mean for AAPL? Dunno yet... we'll just have to watch and wait. First long-term support is at the middle of the regression channel, which is at about $37.50. If that fails, then the line in the sand will be the lower rail at about $25: 139.142.147.218 More immediate support levels include the now declining 50 sma, currently at $38.68, and the 200 sma, currently at $31.96. The lower BB rail sits currently at $33.48 and also represents support. I think a pullback all the way to the 200 sma is a very real possibility. So that would mean about a 20% pullback from current levels to the 200 sma, which will rise to $32.00 or higher in the meantime. Support at the 200 is very important; if that fails, then the final support level at the lower regression channel will very likely be tested. I just don't see much other than storm clouds ahead in the medium term here. It is too soon to tell with any accuracy when things will change, but I think the 200 sma is a probable reversal point. I think that support will hold. I see no evidence that AAPL will begin a new downtrend, but if we see evidence of professional selling (i.e., a big volume gap down), then that conclusion will have to be re-evaluated. T