RE the two downgrades

Morgan Stanley’s Katy Huberty has been consistently wrong on Apple stock. She is one of the best contrarian plays I have ever seen. She never has any facts to back up her thesis… totally disregard her.

RBC downgrade. Mike Abramsky is a different deal. RBC is a Canadian owned firm and their clients got really badly burned on RIMM. they must be furious the way it was being pumped. After the RIMM collapse you can be sure Abramsky was called on the carpet by his masters and told to lower Apple.  JMHO ...It will be ugly for a bit but I would rather be an owner of Apple the company than any other entity at this moment

[quote author=“Eric Landstrom”]January support.

New 52 week low just now…

New 52 week low.

VIX at 37.55, two points up on the new no-short-rule normal.

[quote author=“SNIPUS”]RE the two downgrades

Morgan Stanley’s Katy Huberty has been consistently wrong on Apple stock. She is one of the best contrarian plays I have ever seen. She never has any facts to back up her thesis… totally disregard her.

RBC downgrade. Mike Abramsky is a different deal. RBC is a Canadian owned firm and their clients got really badly burned on RIMM. they must be furious the way it was being pumped. After the RIMM collapse you can be sure Abramsky was called on the carpet by his masters and told to lower Apple.  JMHO ...It will be ugly for a bit but I would rather be an owner of Apple the company than any other entity at this moment

Unfortunately whatever reason to regard / disregard these downgrades it ain’t helping the share price. The shorters have Apple where they want it and are just playing it day by day.

New 52 week low - where do we go from here?

I signed up for his 3 day trail.  I watched a couple of the DOW videos and I have to say he called the market tank about a week before the LEH failure.  It was purely a technical call looking at the NAS and DOW charts.

This video is a little less clear.  It seems like he thinks the bottom will be around $90, but is not sure as he says he is staying away for now.

this is true panic selling,,,, hopefully we get big NASDAQ volume today

Support at $111.62 from August 13, 2007.

Edit: operation turkey drop didn’t respect support.

bwaaaff…......gee i feel sick: where is the puking emoticon???? 

This is insane….. hold (long) or get out now???  

Insane, yes.

Ok, now we are below the target price. TIme to go up!

CAll me stubborn but Im not done yet and I just grabbed another 50 shares @ $111

Will buy in again if we go below $95

i know how everyone’s feeling right now, i myself is in a lot of sh*t… i bought a lot of $200 LEAPS last monday thinking it would be the bottom, and because of my stupid company’s policy i still have another 3 weeks of holding period before i can sell, so i can’t even cut loss right now

so ya, just to remind everyone that we’re all in this together, and u’re not alone. let’s stick together and weather out this ugly storm

[quote author=”$Billyall”]CAll me stubborn but Im not done yet and I just grabbed another 50 shares @ $111

Will buy in again if we go below $95

Can you stop with those numbers?? I can’t find a rope and i dont dare to cut my wrists…gee give me a break….. 

These are sentiment downgrades. The reasons they cite other than the economy,  are silly - like expenses for iPhone development slow earnings - this is crap.
AAPL earnings are growing. The stock price will be above current levels of $110 when earnings are announced.
I’m moving cash to my account to buy calls.

I found this WSJ web site that lists the Short interest on the different exchanges. AAPL’s short interest has increased almost 25% since August, and is now just shy of 3 days to cover the short interest (I can’t recall when last I’ve seen this much short interest in AAPL).  http://online.wsj.com/mdc/public/page/2_3062-nasdaqshort-highlites.html

It’s Interesting that AAPL gets a downgrade right at the end of the quarter, ahead of what is traditionally their best quarter.