Just sold - Stock is set up for a big sell off with no new products on the horizon and China Mobile pretty much saying "we don't need iphones" to make money. Its a mistake to hold here thinking the stock will go higher. If anything it looks like the company could miss big time next few quarters and stock could retest $450 or lower.
China Mobile playing hardball with Apple and one has to wonder how far Apple stock could drop as we get another China Mobile delay, after delay, after delay. Today's CM announcement that the company is in no hurry to sell iPhones will hurt Apple stock, Big question now is will the blood letting stop at $520 - $530 today or head lower tomorrow, next week?
and maybe lower. China Mobil in no hurry to add iPhone and rumors are that a deal won't happen until mid-2014. Also, CM telling Apple they will not subsidize iPhones like other phone carriers so Apple could really fall if we get more negative news. With no new products out for several months and no iPhone deal in China, this stock could quickly retrace back to $400's levels.
Gold going to drop $20 to $50 every week, until we finally bottom around $350 an ounce next summer.
North Korea has no gold, can not buy gold and spends more time killing high level relatives of fat boy dictator then threatening neighbors. GLD drops 5% as more North Koreans go hungry and a few other heads roll..
With the House passing the budget bill tonight gold gets hurt on two fronts. First, the House move directly reduces political risk with regard to fiscal policy – the House bill removes the possibility of a government shutdown. Second, it also has an impact on forecasts for monetary policy. By reducing political uncertainty, the possibility of an agreement also raises the odds that the Fed will begin to taper its monthly bond purchases at next week's December monetary policy meeting.
GLD is now set up for a major sell off. It will start tomorrow but pick up speed next week as we get closer to a very possible Fed Taper.
Because tonight the House sends goldbugs flying into the flames, as they approve a two year budget with no strings attached. Now all we need is for the Fed to taper next week and we all will be dancing on GLD's grave.
question is will you be in the correct trade (position) to enjoy the $100 gold sell off that is coming any day now?
and you know it will sell off day after day going into Dec 17 - 18th. And then after the Fed speaks it crashes and burns never to return over $1000 an ounce much less $500 an ounce - when it dips to $400 in April 2014.
“This seals the deal on tapering at one of the next three [FOMC] meetings,” says Zandi. “My suspicion is it will be March but if you told me it would be in January or December I wouldn’t be too surprised.” With tapering outcome now in our headlights gold has no where to go except down.
See you all at $116 a share (maybe lower) on Monday.
Market is forward looking and GLD see's Taper in Bright Lights heading towards it. Maybe not as fast as many think but its coming and that train wreck for (FOR GLD) will happen sooner versus later.. The Fed tells everyone next week QE is on the way out and with that news gold crumbles.
and looks like it will test $105 to $110 this Friday. And under $80 a share by Christmas
Both Gold and Oil are set up for a massive correction. Gold will fall throughout 2014 as the U.S economy picks up and the Fed starts to taper. Look for Greece, Spain, Italy, Iran, etc., to sell their gold holdings to raise cash. GLD will set new 52 week lows in December which will continue for months on end. Oil is also set for a big correction to the downside as Iran gets ready to pump more oil to willing buyers. Oil inventory report will show oil/gasoline building in the U.S. as more refineries come on line at full capacity.
Come Christmas gold could be trading at $100 - $1100 an ounce and oil could be under $85 a gallon. Best to stay away from yellow gold and black gold since both are going down - big time.
and then follow that will stellar December sales of iPhone 5s, Air, Mini ipad and who knows - maybe the 5C. Furthermore as Apple products fly out the door this holiday season, we are now three weeks away from China Mobile news regarding major partnership to sell iPhones in China to 740 million CM customers.. If you ever had a green light to go long Apple - its NOW.
Think a little bit of both but the China Mobile news is huge. Apple in a couple years could dominate the China smartphone market. Throw that together will pure domination in U.S. and Europe and soon to be India and you have one mother of a company selling iPhones and othe Apple products to the masses. Forget $600 if CM deal goes through next month. Its more like $700 plus as Apple takes on new Asia markets and see revenue go through the roof.
When you think about it - 929 million is more then most company make in a year. And then you look out over the next year or so and realize Apple has more legal claims against Samsung and other and you suddenly realize Apple could pull in billions of dollars just by suing the pants off everyone who tries to copy them.
Good legal news aside, Apple is heading for $570 plus before CM news break in mid-December.
Yesterday we almost touched $24 but today I think we go over. More news is leaking now that the DOJ is willing to settle on elimination of a few gates at US Airline - American hubs. We're talking some minor changes that will not impact these two Airlines bottom dollar. Look for a win-win settlement for US Airways in two weeks or less.
Several legal and airline specialists said that despite that talk, the Justice Department’s case was weak and that it now appeared to be narrowing its main concerns about competition to a few airports.
Robert A. McTamaney, a mergers and acquisitions lawyer at Carter Ledyard & Millburn in New York, said Mr. Holder seemed to be “holding out something of an olive branch.”
Or maybe waving the White Flag. We should climb over $11 today while US Air moves over $24 a share. Both airline stock set to make new 52 week highs over the next several months/year.