$AAPL Heading Lower?

$AAPL's CEO was quick this week to defend the company's  I Watch sales.

“Our data shows that Apple Watch is doing great and looks to be one of the most popular holiday gifts this year," Cook said. "Sales growth is off the charts. In fact, during the first week of holiday shopping, our sell-through of Apple Watch was greater than any week in the product’s history. And as we expected, we’re on track for the best quarter ever for Apple Watch."

And perhaps Apple will have its best quarter ever.  But momentum is turning south and I am trading for a move lower in the short term.


Tim Cook Defends IWATCH sales

Also out this morning is news that an Apple supplier is looking to expand its operations to the United States.   That sounds expensive.  There is a reason electronic parts are made outside the U.S.   It's a heck of a lot cheaper.  Perhaps with Trumponomics incentives and tax breaks parts will be equally cheap to make here in the U.S. as it was in other countries.  But I doubt it.  This could be another reality for $AAPL investors.  Higher costs = less profit.

That $105 level on AAPL could be back rather quickly if sentiment sours, and that is what I am trading for.

Known to most as Uranium Pinto Beans, Jason has more than 15 years under his belt of trading stocks, options and currencies. His expertise primarily lies in chart analysis, and he has a strong eye for undervalued stock. Because he’s got the ability to identify great risk/reward trades he usually enjoys taking the path less traveled and reaping the benefits from the adventure.

He is a co-founder of Option Millionaires, and he is best known for his weekly webinars with Scott, as well as his high level training webinars and charts found in the forums.

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