Thursday, October 12, 2006

Long Term Buy, Apple Computer (AAPL)

Today Apple was downtrending with the Nasdaq, I saw a support level around $72.59, from August 22nd, 2006. Today's low just happened to touch $72.60 for a split second before bouncing off the level of support. Now one thing I have to keep in mind is that we've crossed below the 50 day moving average, so technically we're testing it right now. I picked up 100 shares at $72.99. I believe this will be a great quarter after Christmas and the holiday season as well as upsides for new products being released. Apple is one of the most innovative companies around and is looking to surpass most others through technology as well as branding.

Apple Computer's Chart

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