From Train - To Drain
We continue to view Apple as a stock largely dissociated from both fundamentals and technicals - and primarily trading under the Universal Law of Gravitation. And although Apple's mass is diminishing by the week - the backside of the great momentum train that was Apple has become the great momentum drain.
Despite the inevitable retracement - we still feel it will continue to bounce down. The massive 2008 momentum breakdown in oil has provided a prescient roadmap to date.