Apple recent decline is dramatic. On Friday it close 20 points down again. If you are a day trader, you would have make a lot of money recently because it either goes down in a single direction the whole day or up the whole day.
However the momentum is gone after falling for 3 consecutive days ever since it touches the high of $644. Mr Hu Li Yang says in his "10 Ways to Sell a Stock" that once a stock falls for 3 consecutive days or 4/5 days, it is time to Sell!
In fact I think the recent selling of the stock is GOOD for Apple. If not for the selling, I think it will fall harder on wednesday, after the Earnings Day. I feel that the Big Boys in Wall Street thinks like me, feels that Apple has a high chance not to beat its earnings this quarter. That is the main reason for the High Volume recently. They are leaving. The Big Boys are liquidating their shares ahead of the Earnings.
My play on Apple is this: I would go in after their Earnings. The harder they drop the faster they rebound. But if Apple gaps up instead, I would let it consolidate first.
I suggest for those investing in US Market, to go in light on your position before Apple announce their Earnings, because this Stock can swing the Market.
On Wednesday, let us look out for Ben Bernanke's speech. See whether they may be hints on a QE coming up.