Monday, January 10, 2011

Mania in Facebook, yeah, but Apple?

I agree that there's some craziness and irrational exuberance involved with the social-networking "sector". Facebook is being pimped by the master pimp, of course, for every cent it may or may not be worth.

But Apple? I saw shares sink at the open with the rest of the market. No surprise given the recent run-up. But since dipping below 338, AAPL zoomed right above 340 and pushed hard toward 341. I'm the guy who hesitated to get in last week on a dip below 333.

Still watching, but unlikely to enter here, though I still believe shares will top at 352 or so by earnings day.

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