Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
It has been a remarkable year for Apple (AAPL) stock in so many ways; both up and down. After an epic rally in the spring, and another (if lesser) one this fall, the stock has been in its own “bear market” the past few months. Things were so bad it had not had back to back gains since mid October – quite a statement for a stock that seemingly could not go down back in February-April.
Despite the consistent selling there was only one gap down day for the stock, which you can see around $580. So if this rally continues that is a sensible spot to see the stock run to.
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Any securities mentioned on this page are not held by the author in his personal portfolio. Securities mentioned may or may not be held by the author in the mutual fund he manages, the Paladin Long Short Fund (PALFX). For a list of the aforementioned fund’s holdings at the end of the prior quarter, visit the Paladin Funds website at http://www.paladinfunds.com/holdings/blog
