Nice ! But BE CAREFUL. Jobs has done an EXQUISITE job of cremating the Apple shorts with his constant barrage of "good" PR and "news" and announcements. Of course, that was THEN. Not sure what's in the pipeline NOW.
I was short AAPL at 91.40 covered at 90.59. This was last week. AAPL RIMM GOOG were all breaking down today.....
Slowdown coming for U.S.: Caterpillar CEO Thu Dec 7, 2006 11:16am ET http://today.reuters.com/news/artic...ess&src=120706_1344_FEATURES_economic_outlook
Maybe they are buying more Lexus and don't need to buy so often. LOL, quality first! Tongue in cheek and a slam to US car makers. By a high end Toyota or a Lexus, sell the BMW/Benz, much, much fewer probs. Gotta quit drinking this early!
eagle, not sure if that makes u happy, but i shorted steve jobs for about 4 days yay. i was short aapl and was stopped out friday, @ around 87.70
http://stockcharts.com/h-sc/ui?s=AAPL&p=W&b=5&g=0&id=p30518248340 If my trading regimend involved shorting stocks, then I would say this is a great short right now. Everyone is so happy around the holiday times throwing their cash at Apple. Then when January comes its back to work and is it going to be bullish party times like in 2004 or 2005? No, we are heading into a recession or at least a strong pullback in growth. There are so many links I can post on this issue it isnt even funny. I say to trust the chart. Apple is going to retrace to 70 dollars and possibly much lower. Apple is not a defensive stock. Its a growth stock that you should have had two years ago. Its now time to take profits in this bad boy. Out of all the stocks in the market right now, the only stocks I would purchase right now involve energy and just one other stock. That would be CVS http://stockcharts.com/h-sc/ui?s=cvs&p=W&b=5&g=0&id=p30518248340 CVS is the only one that makes sense still on a chart.
CVS is indeed good, but so are a few other staples. Things like KO, MO, BUD...etc Because just like you stated, the cyclical growth stocks will get hammered and money will flow into more defensive positions.