I think Apple has come too far too fast. Talk about the IPHONE on Verizon and the unproven IPAD. My opinion is the stock price has been relentlessly bid up by individuals who have no idea about the company or the stock besides what they see on the tube. The last straw was seeing so many of the so called "experts" on ET pounding the desks saying Apple will go up in leaps and bounds to $350. I have opened a short position on Apple and expect the low to be at the end of April.
Let me re-iterate for all of you who missed this post. The Apple stock is about to fall through that trap door. Dont be the last one off the boat. The time is now to sell your shares and go short.
You did not get burned on your previous shorts? Have you not learned at all from your mistakes? Or do you generally justify your mistakes with the notion that the market was wrong and not you? A genius is someone who learned from having made a mistake only once.
I prefer to let the market guide me rather than a self-proclaimed idiot (or is it called crystal-ball reader)
I would feel ashamed for calling someone an idiot. In fact, its a disgrace. Why? If after decades of living, the most creative insult you can find is "idiot" then I would say thats incredibly pathetic and a shame to see my tax dollars going to something like that. Trillions of dollars spent and all you can come up with is "idiot". Last time, I figured AAPL had dropped through the top trend line, but then it rebounded back quickly. The trick is to wait for a true two candle break which it didnt do back in January allowing me to ride it down. This time I see price struggling again at the top line. Hey, dont get me wrong. I am smarter then the average bear and know these are just artificial lines created by light photons on a piece of plastic/glass. They have failed me in the past. However, somehow I think its going to work my way... BTW, if you wondered how I figured out the bottom...prophetcharts is awesome in that it can create a parrallel line. I drew the top line and then created the bottom line using the low back last summer. It wasnt too hard to figure out the pivot in February on Apple. Hehe...
spoken like a refugee from the yahoo finance chat board.. why don't u present a coherent argument to support your position?
the above poster zdreg is absolutely right and thats why I call you an idiot. a) which trend line to the downside did Apple recently break? The 5 period moving average on your 60 minute chart? LOL. b) where did apple struggle so far? It pushed through 230 and even at current levels it did not look like it struggled at all. Or are you the market maker for this stock and saw persistent sellers who dumped huge volume into a buyer market? c) "somehow" you think your failures in the past work this time. Hmm, spoken like a true idiot. d) you should then stick to "prophetcharts", seems you found the holy grail. e) "hehe", your conclusion of your well-made points ridiculous. I am thanking God for guys in the market like you every single day!!! Why dont you look at RIMM there is a lot more downside in that stock than in AAPL, even still now. Only true idiots short a stock like AAPL in this market environment. Its like you put your money under the mattress while it could have earned even more in a checking account. Some people simply do not understand "opportunity cost".
Why would thinking that a stock has come too far too fast lead you to short it? Have you not payed any attention to the risk/reward ratio of such shorts? My God man, there are legions of ruined men who woke up to think that shorting overpriced stocks is a good idea. Wait till the damn thing breaks and fails on a retest. Put some of the basics on your side. Even if this trade works out you are playing a suicidal strategy. Wake up.