Just bought some Apple stock

[moneymaker]

Near my initial buy in, before I sold it, so bought some more. Maybe it’s tanking because so many people have to sell stocks to pay their taxes.

[livinincali]

As long as it hangs on to $420 it’s probably a good buy. If it gets below $420 I could see the 200 day moving average at $365 come into play pretty quick.

[earlyretirement]

I bought some AAPL the last time it crashed and it’s performed very blah since then…. The one thing that has really helped is selling covered call options on it. I’ve sold the forward or 2 months out $500 call options and that has helped generate some cash. I’ll probably continue to keep selling covered call options on them until they get called away.

I hear a new Iphone is supposed to come out this summer so hopefully that helps. Goldman just dropped them from their must buy list earlier this week. That didn’t help.

I just picked up some silver this morning (SLV).

[moneymaker]

Aapl seems to at least have a heart beat unlike Msft which looks kind of flat lined.”livinincali” don’t scare me, maybe if there is trouble in Korea it will disrupt Samsung enough to boost AAPL, then again it could depress the entire market if they launch nukes.

[spdrun]

Chemical or conventional weapons I could see. Nukes? Do they really have a weaponized device capable of being launched via ballistic rocket? Doubt it.

[Vod-Vil]

Screw Apple.I would bet the house on Illumina.The genomic revolution is on the doorstep.

[livinincali]

It sliced through $420 today, let’s see how low it actual gets before bouncing.

[masayako]

I bought a bit more at $404 today, wish me luck

[livinincali]

[quote=masayako]I bought a bit more at $404 today, wish me luck[/quote]

Good luck but I personally would have waited. Nothing really suggests that breaking $420 support on higher than average volume is going to produce an immediate bounce. Dead cat bounce, yeah sure, maybe tomorrow. Long term bottom, highly unlikely but anything can happen as they say. I think $360-370 is probably in the cards now. That’s the next area of potential support.

[patb]

it’s a good company but the margins in the iPhone will continue to compress and the stock will likely compress.

[moneymaker]

As long as there are rich people around to over spend on laptops, tablets, phones, then Apple will continue to sell their stuff. That’s where my faith lies. I will buy more if I can in the near future. Today just reinforces my disbelief in Apple having a beta of .666

[masayako]

[quote=livinincali][quote=masayako]I bought a bit more at $404 today, wish me luck[/quote]

Good luck but I personally would have waited. Nothing really suggests that breaking $420 support on higher than average volume is going to produce an immediate bounce. Dead cat bounce, yeah sure, maybe tomorrow. Long term bottom, highly unlikely but anything can happen as they say. I think $360-370 is probably in the cards now. That’s the next area of potential support.[/quote]

Thanks for the advice. I will buy a bit more when/if if reaches $360-370. Sounds like a plan.

[SK in CV]

[quote=moneymaker] Today just reinforces my disbelief in Apple having a beta of .666[/quote]

Apple is the devil!

I think what you’re missing is that beta is not a measurement of volatility.

[livinincali]

[quote=moneymaker]As long as there are rich people around to over spend on laptops, tablets, phones, then Apple will continue to sell their stuff. That’s where my faith lies. I will buy more if I can in the near future. Today just reinforces my disbelief in Apple having a beta of .666[/quote]

Nobody is saying they won’t, just might not be that good for the stock price moving forward. People still bought plenty on MSFT stuff in the 2000’s but the stock was a dog. Plenty on people bought Coke products after 1998 and that stock was a dog too. History says AAPL will survive but buying and holding the stock isn’t likely to be a good investment other than the dividend. You aren’t likely to see 20+% appreciation annually ever again.

[desmond]

[quote=masayako][quote=livinincali][quote=masayako]I bought a bit more at $404 today, wish me luck[/quote]

Good luck but I personally would have waited. Nothing really suggests that breaking $420 support on higher than average volume is going to produce an immediate bounce. Dead cat bounce, yeah sure, maybe tomorrow. Long term bottom, highly unlikely but anything can happen as they say. I think $360-370 is probably in the cards now. That’s the next area of potential support.[/quote]

Thanks for the advice. I will buy a bit more when/if if reaches $360-370. Sounds like a plan.[/quote]

A plan to just lose money.

[Author]

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