EDGE TRADER

Tuesday, February 07, 2006

AAPL Day 2

AAPL makes a nice run up this am; the question is whether it is sustainable or not. Peak price was about 69.30; it's rolled back quite a bit on a steady downward track since then. I still think about the strong market motivation to move towards max pain, but traders are definitely panicking again.

Looking at the intraday chart, the market makers are angry in this stock, refusing to let the momentum players keep their stops in place.

Some support is showing now around the 68 level.

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