"Water shapes its course according to the nature of the ground over which it flows; the soldier works out his victory in relation to the foe whom he is facing. Therefore, just as water retains no constant shape, so in warfare there are no constant conditions."
Sun Tzu

Sunday, August 19, 2012

Apple at New High: Should You Buy?

AAPL has been hitting a new high on Friday and one might ask if this is still a good time to buy the stock. As can been seen from the chart below, AAPL was able to keep momentum when a similar setup occurred in the last three years and the stock appreciated between 15 and 50% after hitting a new high. If history repeats or at least "rhymes", it is not too late to buy some shares. Covestor Model subscribers have been long since August 3 and I do not intend to close the trade. Some partial profit taking will happen soon, though.