AAPL treading

9:13 am (Hawaii) Long term, AAPL is one of the few stocks that have been great buy-and-hold plays. A run from 78 to 365 in two years is fact and evidence. But the drop from 351 to 348 today, and now from 348 to below 346 in the past 30 minutes, is proof that end-of-month/end-of-quarter window dressing is just that. Hedgies bought in before the 1st of April. Now that it's April Fool's Day, they're cashing out.

Though AAPL didn't gain significantly this week, the major volume today shows that hedgies are emptying their positions until the company shows or states something to the effect that the supply chain is unencumbered, that Japan's disaster will not interrupt the flow created by massive demand.

As I type, AAPL is below 345. Whether it can hold 345/346 is key. This tight, short-term trading range (346-350) had more risk to the downside; the rest of the market was up this week. But the longer-term range is 326 to 365. A dip to the lower end will prove to be an opportunity for AAPL bulls.

I remain in the rafters, clenching my cash with both hands.

Update, 9:55 am (Hawaii). Did some choring (as opposed to whoring) and just got back in. I saw QID's chart decline from the HOD. AAPL must've rallied, right? No. AAPL sinking below 344 again. No catalyst in the near future. Earnings report still a few weeks away. The dip may well be coming. The opportunity looms.