The past week has been heavenly away from the market. Nothing but sunshine and sweet dreams, enjoying the warmth of the islands. But checking this morning's open has been odd, to say the least, with the broader market up and AAPL way, way down.
The possibility (probability?) of an iPhone 4 recall has AAPL down 3.3% to 248.73 while the Dow Jones is up more than 100 points. Where will AAPL go today? The recent low was 243, and before that, 242. If Apple doesn't handle this problem with the iPhone antenna today, shares could easily plummet to a new (recent) low.
That would be awful for AAPL longs, but if the company bounces back like I expect it to, any entry point below 240 would be a nice start for those of us who have stayed away from trading for weeks and months.