Give AAPL some more time. Trust me, there are millions of people who missed this stock and they are all waiting for it to come down a bit so they can jump on board. Cramer is shouting at the top of his lungs to buy AAPL as it moves down, and he's not the only one thinking along those lines. Give AAPL some time to retest the highs. It's obvious this stock could have made a climax top over the last two weeks but that doesn't really matter. The fundamentals are still strong, and there are still people who want a piece of AAPL. Let's see if it can take out the old high on less volume over the next couple of weeks. A divergence on the chart would also help.
I would love to see it set-up like ebay. Divergence top on the RSI; low volume climb up to the new high; right after making a new high it gets hit with high volume selling; that makes a good short. However, look at the ebay chart back when the stock was trading around 46 (split). I remember everyone saying ebay was over priced, it was too expensive, it couldn't go any higher, etc... So they sold ebay down for awhile, all of the shorts thought they were the smartest people on earth, and everyone thought ebay was finished. Then everyone who wanted ebay before and didn't own it jumped in to buy, and ebay went on to new highs.
Anyway, the point is, these type of stocks almost always fight back to new highs after their first small decline. Shorting here could work, but it's a very high risk trade. Even if the fundamentals were garbage, you can't fight a strong trend.
EDIT:
It's also important to note that the longer AAPL moves sideways (within a 10-15 point range), the better chance it has of moving much, much higher.
