The temptation from hundreds of emails sent my way was to buy Apple yesterday at $140. I answered every one that I was a seller, not short, just saying a long hard goodbye to the best stock of my recent lifetime.
It is now down below $130. The company is still phenomenal, but that means nothing to a shareholder base that will slowly evolve from momentum to GARP? or Value?
Not my game. Cash is still my game.
Google is the last great stock to go and it is going today, down close to $50. I am tempted but there is no real reason to get long here. The market has no legs despite being massively oversold. That is what happens into crashes.
Better to pay higher prices with the market on firmer footing.
Hey Howard–
Love your site, love Wallstrip, everything. Thanks.
Do you still think Apple can come back and make another giant run? I’m long Apple, so I’m planning on holding my position for awhile. It is depressing out there, though.
Well, I sold most of my positions,it’s looking more everyday like a meltdown then a correction.It’s hard to believe it happened so quick.But that’s life.
Im all cash for now too. EBAY looks tempting as Meg said she will retire.
did we make a bottom today? i hope so. still long and hurting. finally got my up 300. media starting to focus on governments failure to regulate markets .
a good sign. lets do something about it.
yeah howie … i told u the story of my manic friend who was screaming, he was an aaple genius for owning the stock & I was a dope for not listening to him, even though I owned the stock but wouldn’t give him the satisfaction of knowing.
I sold it the next day near 200. My only mistake was not shorting it.
Haven’t heard a peep out of that fucker since.
His greatest value is to ring bells at tops & bottoms, other than that I could live w/o his ass, and I may. Not worth it.