i want to look at apple ( nasdaq:aapl )today. with apple ( nasdaq:aapl ) here's the thing,the stock didn't do squat today, down six. most stocks were down,though not most tech stocks, justapple ( nasdaq:aapl ). so this is a stock that's in thisconsolidation
aapl market, pattern. if you're long this stock, good for you, iam too, in a long-term portfolio. in a trading portfolio, wouldn't touch it. the stocks consolidating, it's reallyheavy,
and it's just been trading in lower volume. but the longer the stock works to the apex of a triangle themore likely it is that it's just going to trickle likewater out the end. in other words, if you're looking for abreakout you want to see the breakout within the first two-thirds or so of this triangle. wherever your triangle is, however youwant to draw it, you want to see abreakout
in the middle of thetriangle. if it gets towards the end you're just not going to have that muchto juice. the only reason it would get to the end is because it just reflects a lack of enthusiasm. and so i think you've just got a steer clear ofapple ( nasdaq:aapl ).i see the 50-day moving average moving higher, but until the stock breaks out, say abovethis level, i don't think youwant to join theapple ( nasdaq:aapl ) party.
also, maybe this is just the old guy in me talking, but i'm lookingaround at all my stuff and i get a little confused with all thedifferent new little things that they have; their operating system, their new operating system, which totallychanges the look but doesn't seem to do muchof anything else other than confuse you. it just seems to me like they'regetting a little bit, dare i say it, i know blasphemy, microsoftian.
so just be careful of this stock,trade it technically not religiously; it shouldn't be your religion. if the stock breaks out about here, great go for it. but as long as it's not doingthat, this stock is dead money. i see the reversal, butthe reversal hath done reversed, and now it's justconsolidating. so wait for your point, and if the point doesn't come, you don't trade this stock
