Jimnoz asked for my thoughts on the recent action in AAPL. Clearly some big seller(s) wants out. As I pointed out some time last week (or was it the week before last?) it's under incredible selling pressure. And that pressure often starts right at the opening bell. That stock is locked in a downward sloping trend channel - -and is well under its downward sloping 50-day moving averages. Those are two hints & a half... Based on that I'd be looking to sell (short) rallies towards the upper end of the channel and cover near the bottom and/or the lower Bollinger Band.
Update: The caption below should say "now it's sliding down the lower Bollinger Band"
Could AAPL also be carrying out a "head and shoulers" pattern? Check out:
http://biz.yahoo.com/tm/060209/13910.html?.v=1
Indeed
It seems the techs are off today. Close at 67 +.