AAPL Starts Selling iPhone5 in China Dec 14 - Stock will go up in anticipation of the launch
Buy the rumor sell the news..Buy on Monday and hold through the Santa Clause Rally (at least till Friday). Next week I expect AAPL to run to 570-580, and could re-test the recent high around 595. Most likely AAPL will not be able to run past 595 and will turn south again till the end of the year (last week of DEC). Comes, January though, AAPL should start running up again as sellers from DEC will start buying again and new buyers will step in ahead of the January earnings. If AAPL breaks above 595 (no matter when), then buy and hold till $650 which I expect would be the last mid-term run for a while.
So I am bullish on AAPL for next week, then bearish for the last week in the year, then bullish again in January until earnings at which point a near-term double-top could set in. AAPL could re-test the Dec low again next year if earning are bad or the market as a whole starts to tank; otherwise, she is off to the races once again and there is no stopping it at that point. Don't bet against AAPL long term..
I hate to try to pick exact tops or bottoms because more likely than not I would be wrong, but since you asked about $580 and you currently hold the stock, I would tell you this: sSell 1/2 of your holdings at 570, then 1/4 at 580 if keeps going higher, and 1/4 again if it hits 590. However, if AAPL hits 570 and does NOT see 575 or higher, and drops below 570 again, then SELL ALL and don't buy back till January. If you want to catch earnings, then I would say sell by Friday or earlier for sure to avoid the wash sale. So watch the action on Monday; Yes I do expect AAPL to open above $530 which was the Intraday low on Friday, so put a tight stop just below $530 (do NOT sell in pre-market). AAPL tested the 505 and succeeded at 518; now it has to go up above 530 and re-test the recent high at 594.59 which I think would also succeed (meaning the top would also hold) - so the range heading into Monday is 530 to 594.59, and if Ii were to guess an exact #, I would say 538-572. (50-50 chance of being right/wrong :)
If AAPL drops below 530 on Monday, then I expect it would also fail the 505 support and I would dump all immediately.
I am long apple and have been long for several months. Unfortunately I am massively down. My break even is 615.00.
I am considering selling everything tomorrow before the market opens. I really really dont want to.. and I was considering selling last week around 580 but couldnt pull the trigger, greed got the best of me.
Do you really think apple will see 580+ again? At this point I would love to sell 580+ I would still be underwater but not as massively as I am now.
Beware the "Wash Sale", selling at a lose means you can't buy back until 60 or 30 days...., not quite sure which, at a lower cost basis.
Stay long, look at the fundamentals. GO to an Apple store at any time this Christmas season!!
Just buy some low strike puts to sleep at night and be patient. There is a lot of nonsense and we are in crazy times. I've seen this before when companies are under duress because of outside forces that have nothing to do with fundamentals. Remember, momentum goes both ways. Don'tbe shocked if this moves 100 points up in a week. Stocks goe from 50 to 60 all the time, this is no different. The fundamentals are sound, that is what matters.. And turn of the media pundits..