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Friday, January 30, 2009

AAPL setting up nicely

AAPL has done good since the earnings and is now pulling back on low volume to the 50 dma and also towards the area it broke out from.
I think it would be a good buy if it does not go down on huge volume.
My main fear is that we are no longer oversold and other than the good earnings which helps only those stocks , there is news which takes down the whole market.
In that case AAPL might go back to fill the "gap" it created when it opened up after its earnings. That level would be 83. I will tell you this that if APPL falls there , there will be no more buyers and only sellers, which would be a great contrarain sign and a great place to buy.
Trading is all about risk/reward.
Gold is doing just great and Oil is hanging around doing nothing but not breaking down and not breaking out. Maybe its being accumulated .

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I am into stocks, options, all kinda sports, Music, food, Spirituality etc.
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