Apple Falling From the Tree

I did indeed buy a little Google based on the chart shown a few days ago, for an anticipated Santa rally.  It’s an okay company with a stock chart that showed it had tested a huge support zone.  My favorite tech company is Apple, but I wouldn’t touch this stock with a 10′ pole.  Not until the noted support area near 400, anyway.

Think about the herd that piled into this bubble.  How bad will it get as more and more of them realize the bubble popped?  I am sure the wise guy traders are all out and the more alert mom & pop investors.  But what about that final tier folks who only peek at their portfolio every 3 months when a statement comes?  If AAPL could get a quick, panicked drop to 400 it could be a good trade if the regular stock market is still strong at the time.  I’ve got it on watch.

apple

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