On this Valentine's Day morning, I have a new muse and her name is Apple. Perhaps it's my ego - but when has that not been the case with traders? Here's a taste of what I am looking at.
I have no doubt that Apple will continue being a highly profitable and respected company for the foreseeable future. It's just that it is now showing all the telltale signs of a runaway market - a parabolic top. This momentum has made Apple the most widely held stock by hedge funds today. The ramifications of the end of this move, is slightly different than silver...
And I already hear them saying, "It's different this time, valuations are..."
More to come in this line of thinking.
* Hat tip to Chis Kimble on the 17 year trend line.