Apple Stock Sold on the Release of the New iPod News
Posted on September 6th, 2007 in Short Trade |
As I mentioned in my previous post the other day Apple would sell off after the news from Steve Jobs about the new iPods. This was a classic sell on the news. This was huge volume at 83 million shares down $7.93 it will now head south to the next high volume support at $111.62 on August 16 which had 66 million shares. I am expecting a $25 drop by the end of this month. Do not buy this stock until you see the price test 111.62 on light volume then see a sign of strength the following days on big volume. Fourth quarter is a good time to buy tech stocks so keep this on your watch list to buy around 110 - 120.
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