Apple Is My Cup of Tea
In 2011, the markets could not get it together, as the S&P 500 was virtually unchanged for the year. Doug Kass' prediction that this would be so was the equivalent of correctly calling "edge" on a coin toss instead of heads or tails. Standouts such as Apple (AAPL), which gained about 27.5% that year, saved the index from a red finish.
Apple then proceeded to go ballistic, banging out another 57% and reaching a new closing high of $636.23 by mid-April. I watched from the sidelines, as the stock seemed too hot to touch. Apple needed to cool down; in technical analysis, this is often achieved through a basing process....357 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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