Tuesday, February 1, 2011

Crowded orchard

Slept through most of the market. When I hit the sack, AAPL was just opening at around 341. Six hours later, near its high of the day at 345.41. Nothing but up since dipping to 334 late last week.

I missed this flight. Was preoccupied with Egypt. More interested in VXX than action on the Apple orchard. A whole lotta action happened there and now I'm frozen. 13.5 million shares isn't much for a day's worth of AAPL trading, but there's nothing that would stop shares from walking higher daily for a week, low volume or not.

Apple is in a sweet spot as a company. AAPL as a stock has a ridiculously low P/E. So where's my position? Do I lack faith? Cajones? Aggression? Or am I just not awake at the right hours?

AAPL now dipping below 345. I suppose patience is still key. Last time I bought at 345, it turned out to be on its way down (to 334).

No comments: