Wednesday, February 15, 2012

AAPL Sports A Bearish Engulfing Candle

A huge reversal today in AAPL along with the Qs pushing into the target zone probably means the long awaited pullback is finally upon us.  The Qs will most likely retest the 2011 high at 59.83.  I am not planning to short the indexes unless the Qs break and sustain below the 2011 highs.  I am short AAPL from 498.64 with a target in the 427 to 443 range.

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