Duru wanted me to take a look at Apple Computer. How things have changed. This stock was so good to me (and my IRA) last year but now it’s 26% off the 2006 high. As Cramer would say, it’s turned into a serious house of pain. The stock is below all of its major moving averages and is locked in a downward sloping channel. If it can break out of the channel there’s plenty of resistance just overhead, not the least of which are the 50 and 200-day moving averages. So I expect it to be a battleground unless there’s some big news.
The stock got a nice bounce off of 60 today but it came on lighter volume than yesterday’s drop. (There I go complaining about volume again.)
