Hayweed

Market Remains Bullish, But at a Price

As someone who has been long apple for years, the stock is up 30 points in the last month without a pause. The news flow on Apple is all positive and the rumour mill is in full force (china, tablet, etc.) I sold all my apple last week but kept the calls I wrote to make a few dollars as it drifts lower. Long term apple is a great stock, just not really a good trade at $165. The China news may be a catalyst but this is so widespread on news sites and blogs that I would argue that China is kind of priced in right now.

I would pick Rimm and AMZN as better short canidates than Apple but all of these stocks have been too hot as of late. Heck even SBUX is up 80% recently. Is the coffee biz that good as of late. My wait or lack of wait at SBUX is unchanged so this move is not sustainable either.