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Tuesday, March 19, 2013

$aapl, u honey-badger

Given Apple's rediscovered stance of barking-back to the media, its not a complete honey-badger. It only gives a fuck, to the media and wall street, when it wants to give a fuck. (Apple always gives-a-fuck about innovation and customer satisfaction.)

Bottoming action is taking place.

Its attempted to break its 38sma three times in the last 5 months. Obviously failed twice.  Same can be said about the 10sma on the weekly.

This go around the stock is held together by the low 400 support and a technical break in Google.

Over the last few months too much bullshit was spewed trying to justify Apple's decline via the fundamentals. From a pure technical perspective, there was one glaring truth: a rotation from AAPL to GOOG.  This looks to be changing. The strength in AAPL and the technical set up in GOOG suggest the rotation is flipping.

The obvious trade is for AAPL to re-test its 90 sma on the weekly, near 500.  (There maybe some technical resistance near 460, due to the 50sma on the daily chart. But like Apple and the honey-badger, I don't give a fuck. The stock does not belong in the 400s. I will add on any pull-back from the 50 sma.)

How funny would it be if the new OS X was named Honey Badger!

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