A while back I used APPL stock, as an illustration, and how the Steve Jobs movie may have marked a significant cycle top. Our services are precious metal focused, but we received several requests to keep members up to date regarding this potential shorting opportunity.
I don’t like shorting a stock with a P/E ratio of 11.39, but prices may have again peaked. It appears bulls lost control at the 200-day moving, similar to what happened back in November. Prices look like they are ready to drop, and if they break below the 91-93 support level, they could reach $70.00
A gap opened today (109-110) and prices could come back to fill it, possibly a low-risk short-entry point. I would use the double top at $112.39 as my stop.
