[quote author=“awcabot”]17.8% drop in AAPL, on no concrete company news. Lots of hearsay and rumors, but no news.

What a way to start the week.

NASDAQ close below 2000, first time since mid-2005. 

[quote author=“kiwitrader”][quote author=“awcabot”]17.8% drop in AAPL, on no concrete company news. Lots of hearsay and rumors, but no news.

What a way to start the week.

NASDAQ close below 2000, first time since mid-2005. 

Ok, I should have added that the S&P is down 8.8%. But still, Apple could have done better today.

[quote author=“awcabot”]
Ok, I should have added that the S&P is down 7.9%. But still, Apple could have done better today.

Don’t forget, most of WS still do not get AAPL.  When RIMM missed and DELL predicting slower earnings, they don’t realize, as we do here, that is because Apple is taking their market share, and not primarily because of the economy is slowing.  Thus the two downgrades this morning.

Thus this is a buying opportunity for those who want to hold for more than a couple of years.  Sorry, I don’t see a quick turn around because of the overall economy.  I my self will buy to hold when the dust settles down a bit more.  I was tempted to buy this morning but I was traveling, so I held off.  Now I may hold off a few more days.  I don’t see it getting back to 120 quickly, so I have time.

[quote author=“awcabot”]17.8% drop in AAPL, on no concrete company news. Lots of hearsay and rumors, but no news.

What a way to start the week.

And all this with not one mention of Steve being ill

Well, at least now we have proof that a market can fall hard without short selling

though my position is crippled, I’ll probably fire my last shot/dry powder in the next few days
Thinking about getting agressive with a few 2010 spreads

Just came in to see what happened today and the only I can say is that I hope AAPL don’t go below 70 or I am burned again.

I got burned last time for only? letting a 30% possible drop from the all time highs before getting a margin call. It did happen at $140

I took this time a 50% decline possibility from the already low $140. So now I would be forced out at $70. I just can’t believe that this could happen again. That would be a 65% decline from December last year highs.

The SPX is already at prices not seen since 2004. How much decline can it have?. Imo it must be near the bottom. But what I do know?

However, as it is obvious that AAPL is only sold to raise money to pay for other loses, it can decline further. It’s just that it’s unreal.

Anyway, I keep my $125 buy and have now the next one executed which I had set at $115. Next will be $80. A $10 further decline after that and bye bye baby. But it won’t happen. Will it?

 

[quote author=“carbonat”]Just came in to see what happened today and the only I can say is that I hope AAPL don’t go below 70 or I am burned again.

I got burned last time for only? letting a 30% possible drop from the all time highs before getting a margin call. It did happen at $140

I took this time a 50% decline possibility from the already low $140. So now I would be forced out at $70. I just can’t believe that this could happen again. That would be a 65% decline from December last year highs.

The SPX is already at prices not seen since 2004. How much decline can it have?. Imo it must be near the bottom. But what I do know?

However, as it is obvious that AAPL is only sold to raise money to pay for other loses, it can decline further. It’s just that it’s unreal.

Anyway, I keep my $125 buy and have now the next one executed which I had set at $115. Next will be $80. A $10 further decline after that and bye bye baby. But it won’t happen. Will it?

 

Would hate to see you get burned again. Have you considered a stop loss?

BTW, if you sold your $125 buy at $115, and then bought at $105, you’d be at break-even (less commissions).  Good luck and welcome back. 

OT, I was down on wall st last week taking photos of the carnage.. tons of media everywhere..

And I gave a good luck rub on behalf of AFB!

So far, its not working, but I tried.

And I think I heard tommo’s voice..he lives and blogs from inside the bull.