Apple Bears Are Short-Sighted

Over the past 24 hours, I've noticed a persistent argument making the rounds among technical analysts. Some analysts are warning traders to stay away from Apple (AAPL). They say it's overbought and has filled the gap after its late-January earnings disappointment. They say the stock is approaching trendline resistance. Throw in Tuesday's late-day sell-off and the fact that the S&P 500 is nearing resistance and the evidence is overwhelming, they argue.

Or is it? These analysts remind me of my four-year-old daughter. I don't mean that in a derogatory sense; I think the world of my child. However, like many children, she has a bad habit of sitting too close to the TV. This puzzles me, since our TV is probably visible from across the road. Perhaps these analysts are sitting too close to their screens as well....325 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

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