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Tuesday, September 11, 2012


The 'new-phone' run up appears to be abating.

The obvious support is the 50SMA.

If the market holds current sentiment, AAPL's multiple should stay above 14.5, which corresponds to the 50SMA level. (When factoring next quarter's estimates.)

If sentiment sours, I would expect AAPL to achieve its 20SMA via the weekly, and the multiple to approach 13-13.5.

I am looking to re-enter a heavy AAPL position near 600, but will re-enter in stages.

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