To Apple Longs - Possible Govt Shutdown/Deficit battle will push Apple down
Not a good time to go long Apple in front of a coming train wreck with Federal Government shutdown a strong possibility on Tuesday and then a potential crisis coming with threat of U.S. default in mid-October over runaway deficit. Apple could get pounded lower over the next several weeks so have your stops in place. Long term I like Apple but won't touch it with House Republicans telling their leadership they would rather fight Obama then give in and raise the federal deficit. Its going to get ugly I'm afraid.
Just sold. I can buy cheaper next week or even cheaper at end of October. Government is set for major shutdown since House Republicans now think shutting down the government is a better way to put pressure on President then default on federal deficit.
There may be a temporary train wreck in the equity markets, but a shutdown would be beneficial to the citizenry, as they would see that the monstrosity of a Federal Government is unnecessary. Fire 50% of the public employees and the only ones noticing will be members of the entitlement class. Their "benefits" would arrive a bit slower. That's all folks.
No a big issue. You have very uncontrollable tea party Republicans in the House and they will do anything to support their conservative positions. Even bring on a government shutdown next week and a battle royale over federal deficit extension. You talking congressmen who have no worry about losing their elected position since their voting base wants a major confrontation with the President. Apple stock selling off now in pre hours and we could hit sub $370 today. Best to watch from the sidelines since Apple could drop hard if government shuts down next week.
Friends of Barack (FOB) need to inject some fear into the minds of the loyal opposition. They will take the market south to "demonstrate" the oh so terrible consequences of messing with the "singular" achievement of El Presidente.