MARKETS / STOCKS -TOPS & BOTTOMS

Markets run trough a cycle that starts with panic, evolves into cautious buying, then displays increasing confidence. That's followed by universal confidence and complacency. When the complacency is seemingly well entrenched, some cracks in the structure may start to appear.There are unexpected sell-offs that produce lower lows rather than higher lows.The next stage is increasing concern and fear as prices start to slide.Soon fear becomes prevalent, then universal,leading eventually to panic selling.Then the cycle starts again. -Richard W. Arms, JR.
Note: not necessarily predicting that APPLE will drop that far down.- nmike