When it comes to $AAPL who is selling? Everyday on CNBC, everyday on Twitter, Apple is fawned over like a new born baby. Love ,Love Love..love Apple is all I hear. Anyone who owns an IPhone, IPad and IPod will tell you they are the best. If I ask them if they own the stock they reply something along the line of “till$1000” ,or “I’ll never sell they are the best company” and my favorite”I’m in until the ITV comes out. They can all tell you how every person in China wants Apple products because it a status symbol. The thing that bugs me is even if this is all true, which it may be..the people I am talking to are the so called Dumb Money. So if the Dumb money is not selling and holding till death do us/them part..who is selling? The only other money left is the Smart money right? Maybe I’m completely lost and there is another money out there that I don’t know about.
Anyway, $AAPL the stock, not the company has managed to go 3 days without a lower low stop running fatality of the longs. Since April 10th that’s a record. It sure does look like a bear flag to me though. If by chance the other money decides to stop selling maybe the market can bounce. On the other hand if the other money(because it couldn’t be the Smart money..wink wink) keeps selling, this market could be in for some very rough sailing. An oversold market that fails to bounce can be pretty dangerous and over the weekend I have read umpteen stats on how oversold the market is and how bearish sentiment is. So I guess it’s a safe bet were oversold.
So I guess I’m hoping that the Dumb money, or the Smart money..wait,wait I got that confused I think I meant the Other money..hold on maybe I didn’t mean ..oh crap I’m all confused.. Let’s all hope that the Other Dumb Smart supplier of supply of Apple stock stops selling.
Classic! Well done.