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

To: Sam Scrutchins who wrote (16788)	8/17/1998 10:45:00 PM
From: Jon Tara	Read Replies (1) \| Respond to of 213177

I think that AAPL will close higher each day for the next few days. You normally don't see short-term pullbacks from this type of flag breakout. This type of flag is almost always a resting place in the middle of a sharp, swift (near-vertical) upward move. These moves typically carry the stock about the same distance as the previous move. The "measuring formula" for this is to measure the distance on a log chart from the bottom of the previous move to the top of the flag. Then, measure that same distance from the bottom of the flag. I'd put the bottom of the previous move at 33 1/4 on 8/3. Applying the measuring rule, that gets us to about 47 before we are likely to see any significant correction. This is considered the minimum move from the flag. It's quite possible, then, to see another similar flag at that point. BTW, I love the skeptical sentiment here - a VERY bullish sign! What is being lost in this thread is that there was major skepticism in the press and probably most investors prior to this weekends rollout. I do think that the in-store demand was greater than was expected. This may be hard for people who have been so close to this stock to see - that is, I think you may have overlooked the skepticism. I really love it when the true believers want to bail because a stock has gone as far as they think it will go. Love it, love it, love it! Best time to buy. Maybe it takes an outsider (I'm a software engineer who works with PCs running Microsoft OS's exclusively, and would never recommend a Mac, even now) to recognize this...