$AAPL Product launch sell off
Its become a tradition to sell this stock off before any new major product launches. As you know Apple’s new Iphone debuts on September 12, 2012. This is nothing new, the sell off has happened before, and its happening for this product launch. As we look at this Intraday chart on $AAPL the downward trend line is solid and the trend continues downward, unless broken to the upside. Click to enlarge chart.
Noticeably the stock also sells off during The Developers Conference which happens once a year in the spring. The short sellers get an upper hand and dance with joy as they pull the strongest stock in the market down to its knees. Reminds me how the ants like to drag a big piece of meat and there are millions pushing it ? When the institutions are taking out some profits, few day trading short sellers jump in with a gusto and the stock dives . This dive usually freaks out everyone’s ” Investment” in Apple the symbol of strength and stability in the market place.
After few days later the stock gets a ” buy” rating/recommendation from some obscure analyst, and it goes back doing what it does best, going higher.