Apple Inc (AAPL)

[langostino]

is there a bottom?

sure, that's the easy question. the harder one is ... where?

AAPL now at the 200dma, which theoretically could induce a reversal or tradeable bounce. Especially on heavier than average volume.

OTOH, it seems like there's a consensus among some trader-types that it's time to sit on your hands until the $54-$55 range. don't ask me to explain their visions of technical support at that level.

But this certainly is starting to have the smell of fear down here. just the same way the crescendo of posts every couple hours giving the tick of the moment, even if it was nothing more than a couple tenths of a percent, marked the euphoria before the rollover in the mid-80s, it seems like we're building toward the same sort of despair now.

Again, it's worth noting not a single analyst out in defense of AAPL since it was in the mid-60s. There hasn't been any point during the decline when there's been a silence that long. Seems perhaps the fear and loathing isn't just confined to retail investors. For all the previous words of bravado from the analysts about this quarter going to be just fine and dandy, it seems they're a tad hesitant to stand up and shout that right about now. Funny how that works.