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Caution On AAPL Here

April 26, 2008 7:41 AM

I do not like AAPL at these levels and it has to clear Friday’s high to be long here. The risk reward on AAPL up here seems marginal, at best. The easy money on this stock has been made off the low of which I said to be long. I am not big into analyzing sales/revenue and all that as i let the market tell me what they think of it as that is all that matters, but Ipod sales only increased 1% year over year. They have to come up with something new…and big….or the stock is overvalued, IMO. While Jobs seems to always come up with something huge…caution on AAPL up here.

If you are a trader, the trade is to short AAPL here with a hard stop above today’s high. My only concern about being short is that the market continues to show strength and the SP chart still says higher before lower. I would rather get a market reversal AND an AAPL reversal to really put some pressure on.

Written by Tom@StockBlade.com · Filed Under AAPL 

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