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Tuesday
May012012

A Bad Three Weeks For Apple (AAPL)

It certainly hasn't been a good three weeks for shares of Apple (AAPL).  Besides last Wednesday (4/25) when the stock spiked on earnings, it has been pretty much straight down for the stock since its high on April 10th.

One interesting trend that has developed regarding AAPL is the fact that over the last fifteen trading days, there have only been two days where the stock's daily high has exceeded the high from the prior day.  Going back to 2000, this is tied for the lowest number of occurrences over a fifteen day period.  What makes this low reading even more amazing is the fact that as recently as March 1st, the stock saw fourteen days over a fifteen day period where the stock's daily high exceeded the prior day's high, and that was tied for the highest reading over a fifteen day period since 2000.  In other words, two months ago today, investors couldn't get enough of AAPL, but now they can't get out of it soon enough!  These days, if the stock market is open, you can rest assured that Apple is heading lower.  All those that are calling for Apple to be added to the Dow might want to think again.