Apple announces cheaper iPhone
Steven P. Jobs, chief executive of Apple (AAPL), introduced a new cheaper iPhone model on Monday that navigates the Internet more quickly, expanded its distribution overseas and displayed a range of new applications and services in order to establish Apple as a major player in the cell phone industry.  Apple, the maker of consumer electronics and computer equipment, had set a goal of selling 10 million iPhones in 2008, which would establish it as one of the major smart phone makers in the less than two years since it began shipping the original iPhone. So far Apple has sold six million phones globally since its introduction.

As the attached chart shows FusionIQ has had several great BUY and SELL signals on APPL.  Presently AAPL is ranked very high in FusionIQ, however it has risen so far from its most recent BUY signal (denoted by the B on the chart) that we would wait for a good pullback before putting new money to work.

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