Apple: Huge Room To Growth!
$Apple(AAPL)$ got way oversold, the futures are already pointing to a nice rally. The puts to the downside can not all print and therefore, I expect a strong rally to kill those puts.
I still remember that July 24, 2009 I wrote “ $172 has always been a magical number with AAPL.”
Split adjusted that $172 is $6.50.
15 years later, looking at historical
Prices it has been since first week of May 2023.
Eventually AAPL moves higher to stay!
I double up on Apple, way too many people bought puts, do you guys actually think that when retail traders load up on puts that they will print?
Look at the open interest of puts, way too many puts are in the money, apple will bounce hard tomorrow; as a matter of fact the whole market will be green.
The RSI on the SP500 is in oversold territory, a pop will kill all the retail traders that went short, then it may go down again but tomorrow is a pop to the upside.
If it does it is a buying opportunity and will go passed $200 a share. Sometimes the market has to reset. Hold on to your stocks. They will go back up.
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