I read where Carter Worth, chief market technician from Oppenheimer stated that thought the best play now, would be to go short the S & P and go long AAPL. Wonder which way CRUS would go under this scenario?
Sentiment: Strong Buy
Carter suggested that apple could go as high as 500-550
If crus were to track that perfectly that would put us 30-34
If apple were to go to 600-650 crus would be 38-42
but thats assuming the tracked perfectly. Crus is due for catch up as they are trading at a pretty steep discount.
So if you add about 5 bucks to all those numbers sounds about right to me.
kinda the same theory i was talking about with the max pain trade... fast money stole my trade!
Hey Tavis ! What was your Max pain trade?
CRUS would at somepoint head back up. It would be good.
I totally agree time to buy SDS and AAPL