Trading candidates — AAPL — Must every gap fill?
Everybody’s favorite, Apple Computer surged to all time highs this week. Its two day RSI is currently 99.91 (!), untouchable for long purposes for the time being, but another for buy-the-dips watch list.
I’ve never really made trading AAPL my bread and butter, because it is a “newsy” issue where rumors continually fill the wire services and play havoc with technical setups that otherwise would be expected to be fruitful.
Nevertheless, I am expecting to use it both as a long and a short in the coming year, but probably not right now.
Short minded speculators will be eyeing last Friday’s gap up from the 210 level, reminding themselves of the bromide that “all gaps must fill.” How soon, of course, is the rub!
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