First off, what a great group of readers who kept me up to speed while I spent 7 hours on a bus today to Montreal. Better than any website.
It is a sad day for sure. I still love Apple, but the stock no more.
It’s been one of my best rides, but it is over for now. Analyzing the numbers and opinions is futile unless you want to buy broken momentum stocks.
Apple is in no man’s land now. It will take time for the stock to heal no matter how well the company does.
If you don’t think we crashed over the last few months, you don’t own financial stocks. We crashed. Today, E-Trade had a serious 5 year high of logins and they were not logging in to buy. They were selling. That’s bullish, but there is so much time and so little leadership that there is no reason for me to game it as a bottom.
The S&P could rally 10 percent here because of the financials, but it’s just noise.
It hurts to kick out my number 1 position and give back profits, but no strategy is perfect. The trend followers have had 3 great years, especially in stocks. It has been easy.
I don’t put in the time enough to trade anymore, nor am I willing to, so I won’t. There are other great blogs on my blogroll that will do that. I still think the average investor should do less right now. Build lists for the next eventual phase of leaders.
Like saying goodbye to an old friend? I think you are absolutely dead-on that “the average investor should do less right now. Build lists for the next eventual phase of leaders.”
Sound advice. Enjoy the hockey.
Discipline is the key to success to success…. can you keep everyone up as to how Blackstar is doing these days….thanks will be good to hear the bad times as well
Carry on, Howard. I’ll let you know how things go in Apple/Mac land (our strategies are different, so I’m hanging in here). Keep a smile.
Howard – What about shorting AAPL Now? I can see a potential pullback to $98 in my model.
Best of Luck – Go Blues
The Apple store was the most crowded store at my local mall this weekend. I think it’s in the same space the Disney store used to be.
my thoughts are similar to yours. everything is negative. i buy on margin and if i got a call today, i wouldn’t be able to meet it. they would sell me out and i would be tapioca. 2 days later the stock would rally and my sale would have been at the bottom.
this is all theoretical but sometimes very true to life.
like a kidney stone, this too shall pass.
Sold at 160.00. I will miss you APPL. We are still friends, right…