Toppy Tuesday – Don't Sit Under the AAPL Tree!

While we are long-term bullish on the stock, we have pulled our short-term bullish positions – in case they miss and spike lower – at which point we will be BUYBUYBUYing while the rest of the suckers are selling.  This is AAPL's weakest quarter during a weak product cycle – it's madness to expect great numbers and, LONG-TERM, we're comfortable playing for a $400 floor but, short-term – anything can happen

As you can see from Dave Fry's SPY chart, volume was miserably low yesterday, rendering the day's action meaningless.  AAPL's earings will have a huge impact on both the Nasdaq and the S&P, with AAPL accounting for almost 5% of the S&P 500's total earnings.  

 

 

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