My Incredible AAPL (Apple) Bottom Call On Front Page Of TheStreet.com in ’13 (Reprinted)

Apple: $1600 Target by End of 2014

TheStreet.com

 NEW YORK (TheStreet) — Apple has had a rough time of it over the past six months or so, and many have lost the faith. These fair weather fans, that once extolled the virtues of the all things iMaker, are now calling for its demise. Well, after close exhaustive technical analysis, and corroboration with Master Elliottician, Ted Aguhob of Wave Genius, we have determined the markets are going to explode in the next year or two, and so will Apple.

What we are experiencing right now in the major indices is a massive third wave breakout in its very early stages. The interesting thing is that Apple normally leads the way in such market-wide events, but this time it’s a lagger.

It appears now that the pullback that has shook the Apple faithful, is actually a massive two wave. And looks like it may have bottomed, or come very close to bottoming. Upon closer scrutiny, the pullback off the all-time high of 705 has formed a classic ABC corrective wave. Normally the A wave equals the C wave, but in this case the C wave has truncated, turning up just short of the ideal formation.

Of course, Apple may still reach for this low, which measures to 390, before forming the third wave. But it’s not unusual for C waves to become truncated (ending prematurely), before starting another impulsive wave up.

There are several trigger points, over the next few weeks and months, that will confirm a third wave has started. It’s like climbing a ladder that gets easier as you reach each trigger. The first is minor resistance at 480, which is also 23.6% retracement. The second is retaking the neckline of a massive head and shoulder, which fueled the breakdown, that’s at 530, which represents 38.2% retracement, then 590, which represents 61.8% retracement.

The interesting thing about each of these levels, beside representing significant areas of consolidation and the exact tops of minor waves, is that they also represent perfect Fibonacci ratios. After each of these levels is taken out, the odds of a third wave confirming grows.

There’s no doubt that this call is very early, and anything can happen between now and then. But when taken in conjunction with our major index calls, it all falls into place. The timing of this move is not determinate, but advances usually move slower than declines, so we expect the call to be realized by the end of 2014.

— Written by Ernie Varitimos, author of the Apple Investor blog.

This article was written by an independent contributor, separate from TheStreet’s regular news coverage.

In this video, I pinpointed the day and number of the AAPL bottom, as stated in this article (395 bottom, bottom was 395). Eureka!


About the author

The secret of many top analysts and traders...(in fact mutual fund managers, hedge fund traders and even a couple seat owners of the NYSE are subscribers!) Wavegenius.com. Ted "Wavegenius" Aguhob since 2001 has profited on 80%-88% of his trades EVERY year since the inception of his blogs and websites..Ted has made and incredible amount of calls during this period including: 1778% gain in 03-04 from swing trades, The 2009 bottom lows of S&P DOW and NASDAQ literally right on the number, the massive 3rd waves when SPX made it's run from just over 1000 to 2400+ that we're seeing now (these calls were written by Ernie Varitimos on articles on the FRONT PAGE of TheStreet.com, Yahoo Finance and MSN Money for a week), The exact all time low of Apple and Facebook and the huge move that followed on Youtube videos, and he's had Top 20 Charts of stocks that 90%-100% of the time were accurate...at the time the calls were considered insane to most and hundreds of his charts have been like that..until they actually happened...as a result Ted with a tiny audience made almost $177,000 in 2013 as one of the top earning blogs in the country. His following is beyond fanatical, and has been hidden away for many years with many websites and competitors refusing to partner with him..mostly because he'd walk in there and take away many subscribers and traffic from them...

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