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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: sandeep who wrote (151241)	3/6/2013 3:52:48 PM
From: Trader J	2 Recommendations Read Replies (2) \| Respond to of 213173

I'll disagree with that. Holding $424 does nothing to alleviate the fears of the $400 handle. Quite honeslty, I believe $420 HAS to fail and we need to see a drop to below $400, perhaps on a day of capitulation, to take out stops and create a compelling valuation. There's so much built up negativity and fear at this point that the $400 level is now a self-fulfilling prophecy and overhang in my trading experience. The sooner that happens, the sooner we can put in a base that can hold. I have ZERO belief or fear about Apple over the next 36 mos., I'll be very blunt about that. As far as a trading stock goes over that time, there's so many potential positive catalysts to take advantage of and so much current negativity that the risk-reward ratio is very compelling. But I'm not eager to take further positions until we can get that drop. I'm remaining very objective on this issue and I've seen the pattern countless times before. I have no belief that we're revisiting the old RCA model/pattern at this point. There will be a time, but this is not it. And let me just say that I'm not usually willing to go that out on a limb in the way of absolute statements very often when it comes to stocks I trade or invest in. J