Combing through cyberspace the past 12 hours, there seemed to be some sense of belief that AAPL is due for a pit stop and pullback, and I wouldn't disagree. After all, there's been hardly a pause since shares dipped to 326 (twice). What goes down must go up in Apple's gravitational pull.
Yesterday, shares were up in premarket, up to 344, before selling off to 341 after the opening bell, then running to 345 before closing a hair below 344. The momentum, some said, was gone. They might be right. AAPL is up a buck and change in pre-premarket to 345. By the time retail traders get their hands on it (10 minutes from now), it could drop again. That wouldn't surprise me.
Do I get out then? Maybe. Nokia announced drastic downturn in sales, no question due to the iPhone's popularity. The bulls are happy with Obama's speech, which means the buying will not cease, at least until QE2 fades in a few months.
NFLX is on fire, now up to 208.40 premarket after last night's robust earnings report. I have no interest in touching a scalding-hot issue like that, but it doesn't hurt AAPL to have such an effective app (Netflix) in house.
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