This post has been updated.
Back in December, while I was writing a story about the extraordinary volatility of Apple's stock, one trader used the term "Apple slingshot" to describe the ups and downs of its shares.
Basically, the idea is that the stock experiences such wild fluctuations for such a huge stock. Each time it dipped to a new low over the past several years, it then rocketed back even further to a new all-time high. Like pulling back on a slingshot and then releasing it.
It just takes a strong stomach to hold on.
With the stock on a strong run the past week, I wonder: Are we seeing the latest Apple slingshot?
The stock opened strong on Monday, rising 3.17% or $13.24 to $430.44 in mid-day trading. That means the stock is up 10.2% since it closed at its most recent low of $390.53 on April 19.