i'm dan fitzpatrick at stockmarketmentor.comon saturday, june 30th. in this video we're going to look real quick atapple ( $aapl inc ). this has been consolidating for quite awhile, over a month here, with a little uptrend. it's been oscillating around thefifty day moving average. here's the
aapl price, thing, if this wasn't apple ( $aapl inc ),and we didn't havean earnings release date in the middle of july, this is not a stock that i'd really betrading at all. i would just be
watching it, but since it is apple ( $aapl inc ) it's something that i want to betrading. it was up nearly fifteen points on friday but since it's almost $600.00it's not that big of a deal, it's apple ( $aapl inc ). so what are we doing? you look at theweekly chart and this has been really a mess. it isstill well extended above this forty week moving average. think aboutthis, this is where support is along this moving average, right now that support is at $488.00,let's call it $500.00. apple ( $aapl inc )
could fall eighty five points and still not be in a troublesome position as far as the uptrend. so this is a stock that is stillwell extended. i think at this point honestly, it's more of a traders stockthan an investors stock. the reason i'm saying that is if you're an investoryou should have been in a long time ago. if you're not you're probably not buying it at the besttime over the long haul. if you're looking for a trade into earnings thisis a stock that you want to watch because it's just not going below about$565.00 or so. with that as
your stop i think you start building aposition in apple ( $aapl inc ). watch this thing to start tracking alongthe upper bollinger band. if it does not do that then maybe you've got anissue on your hands. frankly, i think if the market remains strong, and i'mtalking over the next week or two, i'm not talking about monday or tuesday. i'mlooking out over the next couple weeks. as long as we don't get a massivesell off, which i doubt we're going to get, as long as we don't get one ofthose, i think apple ( $aapl inc ) is going to start trickling up into earnings. it should pushabove $600.00 well before that time. then as far as how we traded aroundearnings, you know what? let's just get into
the uptrend first. okay, members to theweekend update. i've got a lot to say about our little short covering rally andvarious other things as well. so get over there now.
