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AAPL: It Would Be Justified To Retest $165.31 Here

June 19, 2008 1:10 AM

AAPL has to hold $165.31 I believe or it may retest $145. I have long warned being long the stock up near the highs, but people buy it anyhow. If we clear today’s high, it should spike and should be an easy buck profit to the upside for a day trade. Free money is ok, even if small.

If it cannot clear, then a retest of $165.31 is in order. If that clears, then much lower is likely. Obviously, the overall market may dictate the outcome. I still believe this is the worst possible sector to be in - U.S. dicretionary. The ONLY reason it is holding is that it is APPLE.

Written by Tom@StockBlade.com · Filed Under AAPL 

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