There’s only one trade for Apple (AAPL).

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I want to look at Apple ( NASDAQ:AAPL ) today. With Apple ( NASDAQ:AAPL ) here’s the thing, the stock didn’t do squat today, down six. Most stocks were down, though not most tech stocks, just Apple ( NASDAQ:AAPL ).

So this is a stock that’s in this consolidation pattern. If you’re long this stock, good for you, I am too, in a long-term portfolio. In a trading portfolio, wouldn’t touch it. The stocks consolidating, it’s really heavy, and it’s just been trading in lower volume. But the longer the stock works to the apex of a triangle the more likely it is that it’s just going to trickle like water out the end.

In other words, if you’re looking for a breakout you want to see the breakout within the first two-thirds or so of this triangle. Wherever your triangle is, however you want to draw it, you want to see a breakout in the middle of the triangle. If it gets towards the end you’re just not going to have that much to juice. The only reason it would get to the end is because it just reflects a lack of enthusiasm.

And so I think you’ve just got a steer clear of Apple ( NASDAQ:AAPL ). I see the 50-day moving average moving higher, but until the stock breaks out, say above this level, I don’t think you want to join the Apple ( NASDAQ:AAPL ) party.

Also, maybe this is just the old guy in me talking, but I’m looking around at all my stuff and I get a little confused with all the different new little things that they have; their operating system, their new operating system, which totally changes the look but doesn’t seem to do much of anything else other than confuse you. It just seems to me like they’re getting a little bit, dare I say it, I know blasphemy, Microsoftian.

So just be careful of this stock, trade it technically not religiously; it shouldn’t be your religion. If the stock breaks out about here, great go for it. But as long as it’s not doing that, this stock is dead money. I see the reversal, but the reversal hath done reversed, and now it’s just consolidating. So wait for your point, and if the point doesn’t come, you don’t trade this stock

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