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Friday, October 3, 2008

AAPL Apple Capitulation Bottom?

Today 10/3/08, Apple opened up higher...hitting a high of $106.50, and then tanked under $100 and hit a low of $94.50. This move took only several minutes on very heavy volume. A few minutes later, when CNBC talked live to someone at Google, Apple shot back up to the $103 level where it started.

Could this be the capitulation bottom the longs have been looking for? To me, that looked like a classic bottom but its way to early to tell.

There was definitely support at the $95 level from last year on AAPL

http://blackberrystocks.com/aapl.html
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