That's what Apple can do to me. I sold my shares long (a few months) ago at $93 and regretted it ever since. Call it a longing for a lost love. It was my fault, babe. I should never have left you. I'll treat you like a princess now. Please take me back. Yeah, it's that tacky, that emotional. OK, let's just say I've been using Apple products long enough to know that I trust the Co. Yeah, I would've bought at 111 two weeks and one day ago. Complete, utterly cultish faith.
But I didn't have dry powder then. I did today. And after I bought my nephew his beloved piece (another one) of Under Armor — yes, he wears it almost daily — I scoured my A and A- grade stock picks for bargains. The rest of my A graders were far above their MAs. Some of my A- stocks were reasonable. Flowserve was up like the rest of the market, but within its moving averages. So was (is) Google. Even Blue Nile was just a skosh above its 13-day MAs. At 84, NILE is well below its high of 98. I kept pining for Apple, though. The stock is off its high (149), Monday is Labor Day, which leaves only Tuesday as a possible ramp up to Wednesday's probable introduction of new iPods. Or not. I find myself thinking more like a trader than an investor. I have no plans to trade AAPL. If the stock dips on Tuesday, maybe I'll get more. Or maybe I'll stick with discipline and shop for a reasonable price in NILE.
CEO would've been a good buy yesterday at 116, but it gapped to 122 before the opening bell. Crazy behavior for an oil and gas Co, but I've come to expect that out of CEO. I find myself as interested in the geopolitics surrounding China's No. 2 oil/gas producer as anything else. Still don't own a share.
Apple? I'm halfway back to what I had before I sold in May. The fruit is good. The buy at this price, though, should be forbidden to all cult members.
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