Wednesday, March 25, 2009
Apple Follow Up.
Here is the chart on AAPL that I promised.
I realize many are lathered up once again this time with the durable goods number. I would counsel that you pay attention not to this months number but rather to the revision to last months number as this is more pertinent. Notice how it was revised much, much lower. This is lost on the equity boyz but then again, what isn't. The Steve Grasso's of the world might want to call their clients and find out what to do now and further to tell the viewers on CNBC what to do.
The trickle down effect so to speak.
As for the equity boyz why pay attention to revisions when you can ride the number of the day. Who cares if last months durables were revised down, double !! Who cares if Eastern Europe is imploding. Who cares if Britain's gilt (bond) auction was a mess. Why let that get in the way of a nice goose rally. Skim some more before the gig is up.
Then when it all rolls over once again they can blame shorts out there, like me. They can blame the lack of the up tick rule, which by the way I am still waiting for someone to explain to me why there isn't an equal and opposite down tick rule to buy. They can blame mark to market, etc, etc. Same old, same old. Then CNBC can drag out the same old shills with their lame shallow and self serving arguments.
It's all just one big Groundhog Day movie without Bill Murray to make us laugh.
Good speculating to you all and never forget that "an investor is a speculator who made a mistake and will not admit it".
Long 1 unit Ultashort 20yr Treasury ticker TBT @ $44.25 stop @ $42.17
Long 2 units Ultrashort Real Estate ticker SRS @ $49.85 stop @ $46.86
Short 1 unit Microsoft ticker MSFT @ $19.20 stop @ $19.20
Short 1 unit Apple ticker AAPL @ $107.30 stop @ $109.82