Apple AAPL Breaks $100 February 9, 2009

Apple ( AAPL ) is breaking out to the upside this morning, 2/9/09. Today is the first time Apple has broken $100 since Mid December when the stock topped out at $103.60. This area will be big resistance and traders are likely to sell their aapl shares into the strength. www.stockcharts.com

Apple stock has gone from $78 to $100 in three weeks, incredible run!

What if $103.60 is closed above? If the strength in aapl shares continues and Apple closes over $103.60, I'd expect Apple to eventually test $110 which is the next resistance level. I'd be using a tight stop at about $103 if I am trying to hold for a possible retest. No sense in giving back any of the huge gains of late by being greedy.

Apple Support:

I think it is now safe to by Apple stock on pullbacks to the 10 and 50 day moving averages. If you notice on the chart above, the 10 broke up and crossed the 50 day moving average. This is a bullish set up going forward. It finally appears Apple has bottomed below $80.

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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

Stocks to Watch: 9/30 - AAPL, RIMM, FSLR

Today we are getting a bounce higher from yesterdays record plunge. Thursday looks like the earliest that they could start working on a new deal for the bailout plan. I honestly don't see this bill passing now because if you tweak the package, some of the No voters will turn to yes, but maybe some of the Yes voters will now turn to No.

Jim Cramer's new target for the Dow is 8200 if this deal doesn't get passed.

So what if we do get a deal? Well, I think you could see a 700 point up day if not more. Cramer said he's ready to tell people to buy when and if this thing passes.

Putting the above aside, stocks I will be watching and trading today are FSLR, AAPL, and RIMM. These three stocks are super volatile so and quick plunge should be bought, just remember to take profits quick. On Apple, $112 failed many times yesterday so if we break up through this level in the next couple days...you could see a nice move higher from that level.

Apple ( AAPL ) Double Bottom, Triple Bottom - Long Position AAPL

Apple ( AAPL ) has had a really nice reversal today.....it is now safe to take a long position with a tight stop at $146.

Apple AAPL has hit lows of $146.38, $146, and today, $146.50......a break above the high of day at $150.90 with volume could give you a huge run over the next week.

Long AAPL, tight stop at $146