Monday, November 12, 2007

Rotten Apple

Apple is looking pretty rotten after a horrible past two weeks. It hit a high of $192.68 a few weeks ago and closed today at $153.76. What is going on? Who knows, but hopefully we have seen the bottom (although it could go lower). I may pick up a few shares tomorrow if it continues to dive. iPhone just launched in Europe which should help spur more blowout quarters (the weak dollar will not hurt too).


Eric said...

Hey, wait for some real pain. At this point you are still trying to "Catch the knife".

I would wait for a little bit of a better bottom to form, Or put in a limit order for 120ish, hoping for some "Real Panic"

But it's your money, and I'm sure you can protect yourself with a stop.

It's always hard to tell, but this is looking 50/50 market correction/Bear market.

Brett said...

Thanks for the comment! I was not able to get in on more AAPL yesterday due to the rally, but my position is back in the green. Hope you have a few shares. I ordered a new MacBook Pro yesterday so I need AAPL to rally to pay for it;)

Eric said...

I felt bad after I posted this.Monday would probably been a great buying opportunity, but people did come to their senses Tuesday, but there may be some good ones coming up too.
(I hear some speculation about hedge fund redemption.)

Keep some cash around, to take advantage. I'm suspecting oil may come back to 75-80, and there could be some trades in the oil patch to be had.

But that is all just my messed up crystal ball.

Seems like the nasdaq is ripe for panicked selling.