Apple Stock: Bear Rally Or Bull Market?

 

Last week Apple’s stock price recorded another bullish high and could still hit a price target of $160.  The huge gap to the downside has now been filled!  The question is, ” Is this rally just another bear rally or is it the real thing”?.  I tend to believe that the rally that started in January, is part of an expanded 4th wave and one more move to the downside should eventually happen.  If Apple turns down it may take all of February to accomplish, but when it does I will turn very bullish on Apple’s stock price once it hits my  potential “A” wave in Primary degree.

The hedge funds saw this Apple crash coming and it takes only a few of them to unload billions of shares swamping buyers in the process.  I’m an Apple product user but that doesn’t mean I’m permanently bullish. Earning are extremely easy to manipulate and Apple is as good as any other company that manipulates earnings.  I would be far more bullish if insider buying news filled the financial news blogs, but that has not yet happened.

As more backlogged data comes out in the next few weeks,  it could surprise many investors and set off another mini selling panic.

The Gold/Apple ratio is at 8.25:1 today which I still consider an expensive reading. The more shares we can buy with one Troy ounce of gold the better, but not until we establish a large database over some extreme cycles, will it make sense.  The cheap Gold/Apple ratio was closer to 21:1,  so we have a long way to go before that ever happens.

 

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