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Apple Inc. Message Board

  • high_tech_2000 high_tech_2000 Jan 24, 2013 10:10 PM Flag

    If you are long read this

    AAPL will not bounce, there is no reason or catalysts. It will go down because there are many more who need to sell after realizing their money could be used better somewhere else. Listen, I lost over $1.2 million twice in 2000 and 2008 making the same mistakes by not selling and hoping for a bounce. I was long AAPL until 30 minutes before earnings announcement when I closed all my positions and sold a bunch of Jan 550 naked calls. Currently, I have no position in AAPL because it is simply too dangerous to be long or short. The best thing to do is to get out and let it go to 400, 350, or even 250; you know it when it bottoms. Even better is to take a look and evaluate things and see if you want to be in AAPL (ask yourself why not GOOG?). The most common mistake is that people get emotionally attached to a particular stock and they think they have to make up for their losses by buying more or waiting to get even. Get out now and you see AAPL very differently than when you own the stock.

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