First at all, let me say that Apple is a great company. I buy their gadgets because innovation, trend and functionality. However, since Iphone they haven't been able to deliver a breakthrough product. There are talks about their new 3G phone which can't be introduced because of contracting issues with AT&T. In recession times, you wouldn't expect people buying Ipods, computers or Iphones. At least I know I would prefer to save my money! This is my speculative view.

Let's move to the technical perspective. Looking at the weekly view, something very interesting is happening. RSI is at strong 50 which for a company that has seen as low 35 lately is a great buy sign. However, there is some conflicting data that really bothers me. The +1 and -1 std deviations in the ADX are crossing paths. I have to admit that I haven't seen a similar pattern for long and I'm much sure of the implications, so I'm also learning something new. The important thing, in any case, is that ADX is in downtrend and price is closed to the 20 day MA at 154. Can it go higher? Of course! Markets love rounded numbers 155, 160, 165! In my opinion we are looking at the formation of a beautiful W which if I'm right, will retest the bottom of 120. Volume is decreasing and the stock is growing, not a good combination. The stochastic are going away from the oversold area and RSI is at its highest since we saw the $200 52 week high.

Let's look at the daily view. ADX is showing steady uptrend. MACD is at its highest since begging of the year and we've been in oversold area for at least 4 weeks. Everything looks fantastic! And I should be saying BUY but have you ever feel like you are late to the party? Volume is stall or even decreasing since the bottom at 120. Is like something doesn't seem to be right.

I have here a mid-term bet, with about 105 days left. I want to give it a minimum of 30 days and recheck. Maybe I'm right, maybe I'm wrong. The important thing is having fun and choose your trades! Good luck and thanks for reading my notes.