Wednesday, March 25, 2009

Getting Short Apple Inc.- AAPL

I am shorting 1 unit of Apple ticker AAPL here at $107.40 as it tests the upper end of a recently formed channel off the lows of $78 back in mid January.

I realize some want to call a rounding bottom or inverted head and shoulders on AAPL here but given the weight of underlying weak economic evidence coupled with the extent of this rally I am prepared to fade AAPL here with a stop just above yesterdays high of $109.82

I will post a chart in short order.

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

Open Positions:

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

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