Tuesday, August 21, 2012

Apple Reversal Days 2012

Apple's intraday bounce off of the $675 level doesn't have to mean a whole lot, but since the company is now almost 20% of the Nasdaq, I figured it might be worth looking at other times that the stock has had a big intraday reversal like it had today.

Back in April, when the stock had its last relative peak, the  peak came on a day just like today where it traded up in the morning and lower by close.  However, there were two other big reversal days (highlighted below) in February on little news and March when it bounced off of the $600 level.  Neither of those days (like the thousands of days before them) signaled that the stock should be sold.

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