Jase

Apple Drops MacWorld: Good Move, But Likely to Start Another Steve Jobs Rumor

Dream on? I began my short position at $161 back on September 8th. I've covered only a partial portion of my position (at $86/share; then added to my short again at $112). Do you have any idea of how many longs are trapped above $120 per share? You've had two failed moves to attempt to capture the old floor at $115.44. Go on, pull up a chart of AAPL. Notice the pending death cross of the 200MA over the 600MA? The pissy 50-day moving average is now just north of $100/share. Let me guess, you think the lows were put in at $79.14? You're ready to cite how iPhones sales are such and such, and the monthly revenue from iPhones contracts are going to fatten up that balance sheet, and the future is all lollipops and unicorns and rainbows blah blah. Here's a newflash, homeslice: it's all priced in--that's *why* it traded at $180 to $200 all those months ago. Do yourself a favour: sell your stock or go short. 12-times current forward is at around $60/share--I wouldn't even think about touching AAPL until those levels are reached. Wouldn't surprise me to see it trading in the high 40's or 50's at some point in 2009 on ratings/revenue downgrades. Whatever the case, good luck with your trades.


On Dec 17 12:16 PM brewer wrote:

> "I look forward to covering my short AAPL position at around those
> levels."
>
> Dream on.