Will AAPL hit $500 before $600?
Poll Results: Will AAPL hit $500 before $600?
42% (15)It will hit $500 first
57% (20)It will hit $600 first
I'm not sure if we hit the bottom or not, but I see the makings of a good rally.
1. The company has strong fundamentals. Even better now than they were when the stock was $640.
2. We have rid ourselves of a lot of weak bulls who might sell on dips.
3. Those who haven't bailed probably have very high price targets, either wanting to hold the stock for a long period, or want to sell at b/e (probably considerably higher than current price).
4. Value players have been loading up on shares, and they will likely be looking for a return to high levels before exiting.
5. Certainly the red days have attracted a ton of short interest, which has been creating shares that have been gobbled up by some of the above mentioned, which shorts may find will be hard to buy back when we see a turn-around.
6. Funds and NASDAQ being overweight AAPL has come down a great bit with the drop in price, giving them less pressure to sell.
Have you not read the apple thread or any other thread lately? They are all still in long and strong from the $600+ levels.
I've been lurking for a while and will probably go back to it, but I can't resist trying a prediction.
Don't take it too seriously since I've pretty much been on a permanent losing streak since I started trading.
(Not necessarily because I'm always wrong, but when I'm right I get too greedy and let my winners turn into loosers)
My guess atm (and it's really too early to say) is that Apple will never again see 644, this was it.
As everyone piles into Facebook hoping it will be the next Apple/Google/gold, selling in Apple will increase until it reaches about 400 from which it will probably make a bounce.
My guess is that the bounce won't reach previous highs (and if it does, 644 is likely to be the right shoulder)