Wednesday, August 13, 2008

Shorting Apple Inc. - AAPL

I know that Apple ticker AAPL (chart above) is a fan favourite and yes I have seen the crowds at the stores. But do you really believe AAPL is immune from a consumer who is on the ropes. We have a nice flag forming here on the chart and I am prepared to punt this stalwart on the short side. With the recent rally highs as my uncle point.

I am short 1 unit of Apple here at $178.25 with a stop at $182.76

Good speculating to you all and never ever forget that "an investor is a speculator who made a mistake and will not admit it".

Open Positions:
Long 1 unit of Powershare Agriculture ticker DBA @ $34.50 stop $32.79
Long 1 unit of XTO Energy ticker XTO @ $43.85 stop at $39.62
Long 1 unit Currencyshare SwissFranc ticker FXF @ $92.70 stop at $89.27
Long 1 unit SPDR Gold Trust ticker GLD @ $81.55 stop at $75.82
Long 1 unit ishares Silver Trust ticker SLV @ $14.60 stop at $13.28
Long 1 unit Ultrashort 20yr Treasury ticker TBT @ $68.35 stop at $67.29
Short 1 unit Int'l Bus Machines ticker IBM @ $129.05 stop at $131.54
Short 2 units FedEx ticker FDX @ $87.70 stop at $91.18
Short 1 unit of Apple ticker AAPL @ $178.15 stop at $182.76
Short 1 unit of Lehman ticker LEH @ $19.65 stop at $20.76

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