Posted by: stockscooter | April 23, 2012

Apple Earnings

From what I understand, Apple releases earnings tomorrow.  What a perfect place for a rebound rally. That’s probably why they sold it off so much this past week, as well.  If you look at how deep the latest sell-off has taken my first-to-turn indicator, you’ll see that it’s highly probable to get a bounce-back rally here, that could ultimately last a few weeks.  I just don’t expect it to go to new highs, before the next sell-off begins. In 2008, a similar deep low occurred, and the rally did not take it to new highs.  I’m anticipating a weaker rally scenario this time.  This is a perfect time to have taken profits on recent  short trades and to sit patiently in cash.  Let’s see what earning say tomorrow.

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