The hedge fund trade of last year was to pile into apple and short google... That reversed.
Apple and google will bottom/top at the same time...
The blow off top in google is near so that means capitulation for the apple complex is near.
I think the market is setting a blow off top here... could be a couple days. I had hoped capitulation would correspond (and maybe it already happened but i dont think so) but i think its close.
Tavis,...Sold 1/2 my position on Friday near the close. Don't want to sell my second half at this point. Starting to think its too late to sell? New customer could be announced and this thing just seems oversold here,...Dah! Maybe appl bottomed today? The second half is long term $,..,6 months to end of 2013. Wish I had a crystal ball to tell me what this trades at near the end of this year. $40?? Is that realistic? More??
Sentiment: Strong Buy
unfortunately i think this will also correspond with a short term market top as google has been part of the momentum run...
So like i had suggested a few times in the past we are probably hoping for the market to fall apart for a bit so we can get a reversion to the mean trade and then let fundamentals take over.
Fundamentals? The hell of the whole thing is, we don't price that way, and never really have. I'm not nearly as knowledgeable as many on this board, but my sense is that we'll whipsaw until our earnings are more reliant on volume LED business.
Aye, she's a (CRU)el (S)eductress.