AAPL update.

aapl oct 2012

Counting the waves is not easy task, certainly not if you haven’ got the detailed charting required. Superficially this looks like 5 waves, from $6 to $700. If correct that would imply a drop to about $350 for starters. This would be a conservative estimate that may even apply in an ongoing bull market. The risk/rewards just do not warrant holding on any more. This week has a lot of announcements and so on so we would exit now.