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Tuesday, February 28, 2012

AAPL



AAPL just emerged from a late stage base, is going through a long term decline in column, and price relative was pretty flat, leading me to the conclusion it was no longer a leading stock. Even on the last breakout it formed the dreaded black candle, an indication to me it was going to have a tough time going higher. So, what has it done since? Gone straight up. The breakout in price relative about February 9 should have alerted me that this was emerging, but I didn't pay any attention. This will be an interesting test of the pivot point projection target system: for simpliciotie's sake I will call the lower pivot 445, the middle pivot 526. 526-445=81. 526+81= 607. Sounds a little far fetched, but I bet it makes it.

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