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Tuesday, June 28, 2011

Technical note on AAPL

When Apple breaks the 340-345 resistance level, seen within the negative trend line of the daily and SMA points on the weekly charts, it will most likely go to 360 quickly.

Aside from the technicals intimidating who ever is short right now, AAPL is also looking at accelerated EPS growth this quarter and the next. (Meaning, rule-of-thumb valuations are in Apple long's favor as well.)

The only thing the shorts potentially have at this point is a 'no-vote' on austerity or the health of Steve Jobs. The former is looking more promising, especially with the efforts the French, German and Italian banks making an effort to have a soft-restructuring. As for the later, to anyone shorting AAPL for that trade, my thoughts remain the same, Fuck you.

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