Contemplating a Copper Play

There was a little post-Black Friday pop early this morning from Apple (AAPL) and Amazon (AMZN), but now we are seeing a bit of a fade. AAPL hit my $560 price target and it is time to move on for now. The stock had a good run, but I think we need to develop a new trading range now.

Apple (AAPL) -- Daily Source: View Chart » View in New Window »

I am looking for the bottom side of the range to be in the $535-540 range and the top side to be this $560-$570 area. Since we ran into the top side of the range, the risk-reward seems a bit skewed toward more risk of being long at the moment -- especially when you are sitting on profits from the recent run. Remember, you can always come back into a name even after you've sold it....260 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data provided by Interactive Data. Company fundamental data provided by Morningstar. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by Interactive Data Managed Solutions.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

IDC calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.