Even a Stopped Clock is Right Twice a Day

Maybe I have been a little hard on myself lately, but even a stopped clock gets the time right twice a day. AAPL is breaking out of their bottoming pattern today on good volume and those calls that I have beating myself up about are now back in play.

I have been waiting all day to write this into my blog (as a log), but was afraid the down tape may be a red tide that would even drag down AAPL's good news. Instead, it is looking like AAPL may close near its high near $132.00.

As reported by many, the COO gave some very bullish remarks at the GS Tech Conference yesterday that has enabled the stock to break out (see chart). The stock gapped above the downtrend at open and then recently cleared the only resistance hurdle I see at $131.00 on the way to $140.00.

Next week is Apple's stockholder meeting on Tuesday, followed by a Media Event for iPhone SDK. The buzz will be flying and my luck is turning. I expect a little momentum to be back into Apple over the next week.

Now, I just need horrible numbers from TIE tomorrow evening to make this a week to remember.