AAPL

As, a regular reader would know, I play very neutral on Tech....

I kid you not, if I short it on the NASDAQ it goes higher....... So I just don't have any skin in the game.

AAPL broke 171 support, Technical that is a now a wave 3 move in a downtrend from the highs.

Also, I'm not.. into all the wall-street bullshit, this stuff about Steve jobs is a bear run in the stock, Probably. But I did mention to someone that I agree with the opinion that technically AAPL topped out at the 3G news.

If you read, many of my market Thesis, Tops and bottoms come when "Everyone is in the trade" one way or another... Either they have scared everyone out, or everyone is in.... I always imagine some FNG seeing the 3g phone being announced and going "Oh! apple has a new phone, I should invest, that will be big." Not realizing that he is the last pig to that Trough.

that price action is very weak, and not being able to make a new high on the 3g news.... Everyone who is in that stock, is in..... So.... It gets to correct... Till the wall streeters figure it's a good value again... 150 130 somewhere in there.

This is the same as I feel about the regionals... if you are selling, you would have done it today... The boogyman was out hard. Besides day traders that are out for a morning short... I'm doubting the movement.

My point is... they are going to shake out aapl, and that Jobs is sick, is just the current reason.