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$100 Later

Earlier this month I wrote about a talking head who suggested that traders should go short Apple based upon the fact that it had –

a) Gone up a lot and that is bad

b) Long in the tooth – which is obviously a technical term that I dont understand.

So what has happened since this person embarrased themselves on cable tv – not that you would notice since most finance programs are an embarrassment.

As you can see Apple has continued to go up. The interesting thing about this is the amount of commentary that this has generated with the majority of plonks suggesting that is is time to fade Apple. Actually , they made this recommendation at $500 so you would be underwater if you had followed their advice.

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Comments

  1. Here you go CT, just to balance the ledger:

    http://www.forbes.com/sites/ericjackson/2012/03/21/why-apple-will-hit-1650-by-the-end-of-2015/

    (Stumbled on this while reading the Madoff article 😉

    • Holy Hell………….the last time I saw a stock at such stratospheric prices it was JDS Uniphase which from memory topped out at around $1250 before heading all the way back to a low of somewhere below $3. I can bet you there are people who bought it at > $1000 who are still holding it today in the belief that it will one day rise again .

      Remember the brokers lament…good shares always get better and you wouldn’t be stupid enough to buy a bad one would you? 😉

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