AAPL - rough end to the week

Apple (AAPL) saw another wild swing, this time it was back to the downside. All those knife catching bullish maniacs who were jumping on board yesterday, just got scorched. AAPL closed lower by 2.6% @ $532. AAPL will see a death cross at the Monday open, even if it opens higher.


AAPL, daily

AAPL, monthly

Summary

A pretty wild and crazy week in AAPL, and the Friday close should not inspire further traders to catch the proverbial falling knife.

AAPL looks set to break the big $500 level in the very near term - regardless of how the main indexes trade.

An increasing number of commentators/analysts are touting AAPL in the mid 400s, a few ...even the low 300s.



As I started a few months ago, the 'doomer' outlook would be AAPL flooring in late 2013..somewhere around $300. Right now, that is 45% lower than current levels.