North Korea loudly proclaimed it was making a nuclear weapon to be fired at the United States. The largest company on the planet has lost one-third of its market value, destroying hundreds of billions of dollars of wealth in the span of a few months. And, based on this, the market on a number of measures reached the highest levels ever in world history.
Well, Apple has been talked to death, and frankly, I think in the weeks ahead, people are going to realize it's basically a company past its prime and not really worth yacking about. No one has given me a medal (or a chest to pin it on) for my oh-so-right prediction about Apple, but I'll say what I've said before: you will never see this stock again at $700, and you can expect it to fart around in the 400s (and, occasionally, lower 500s) in the months ahead. As the chart shows below, we are close to major support, and a retard-o-bounce is a strong possibility.
