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Apple Inc. Message Board

  • wait4itorsell wait4itorsell Apr 24, 2013 11:48 PM Flag

    That was a terrible ride...

    Sold AAPL at 409.32, lost my shirt on this one, I forgot the basics of trading

    1. Never turn a trade into an investment
    2. When everyone is talking about a stock, it's too late to get in
    3. When everyone is fearful and you want to be greedy, understand why people are fearful
    4. In today's market it doesn't matter what a company has done, it's what they will do next.
    5. Never try to catch a falling knife
    6. Perception is reality, even if it doesn't make sense
    7. Reasonable gains and acceptable losses
    8. If you can't be in front of your screen from 9:30-4 EST use tools to protect from the downside

    I would like to thank Mr. Cook, all the short sellers, and of course Jim Cramer and the rest of the CNBC crew for helping me remember all the things that I ignored. Oh well, you can’t win them all.

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    • Your number six is more important than ever these days.
      Trend trading has taken over and ruined the stock market completely.
      Apple got stuck in a downdraft and hasn't been able to break the trend.
      I bought SDRL and NE in summer of 2010 during the Gulf Oil Spill mania.
      Offshore oil drillers with little exposure the USA or that Gulf spill got bashed senselessly.
      IMHO, what has happened to Apple the last 4 or 5 months is the same. It will go back up.
      On the plus side, Mr. Cook will be able to retire some shares on the cheap.
      I'm glad they are focused on a few killer projects and not spread out all over the place like MSFT and AMZN

      Sentiment: Strong Buy

    • Great sum up. You took the words right out of my mouth. I started off buying shares in the 525 range thinking it hit the bottom. When it sunk to 425 I thought I've got to make up my losses with options. That was a huge mistake. After this last earnings report I sold everything. All in all I lost about 50%.

    • LOL! Now go short some to buy your shirt back.

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