The Earnings Aftershock
So many traders are asking what's wrong with Apple (AAPL) today, and outside of earnings, this is the same action we've seen for the better part of three weeks now. Take away the two up days over the last three weeks, and the action would be just hideous, but when you realize those two days accounted for 80 points to the upside, you see that Apple is a rare stock that can be down 12 of 14 days, yet be one more away from all-time highs.
Whatever is wrong with Apple is not something that developed over the weekend or this morning. The trouble has been there for three weeks, but it has been hidden by a huge earnings move and a one-day squeeze. It is squarely in the combines of short-term traders and flippers at the moment. Along with the rest of the market, I'm on the sidelines for now, just watching the action overall and watching Apple closely....353 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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