From the powerful move it saw last week, the stock is now hugging the 10 SMA. It is showcasing a mini consolidation from that strong move. The set up looks like AAPL wants to change direction, and push upward.
Fundamentally speaking, if the month-long weakness was due to the Nexus One Google phone, that is a bad reason for sellers to come out. (Lets not forget AAPL is more than an iPhone.)
I purchased the common here, not options. (Would like to ride past 205, but knowing my trading habits I will be trading around it rallying.)
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