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Wednesday, January 14, 2009

Apple stock ( AAPL ) in trouble for now, down after hours

$77 is a new low for Apple stock. Steve Jobs is taking leave till June and that's why the stock is down to $79 as I write this.
It might even open flat ( $ 85 ) tomorrow but people are selling it for now.
I think its traders panicking as the image perception is Apple inc = Steve Jobs.
Well I do not think it should be sold but who knows.
I have no clue how Apple Inc does but I think it will do just fine. Of course leadership is leadership and that affects stocks a lot.
But it might turn out to be a good buying point.
I usually do not touch stocks where there is a doubt over things. But you gotta make exceptions. but I will look to buy AMZN , USO and/or GLD like I said earlier.
AMZN is sitting at its 50 day moving average, a very tempting place to buy. Volume on this decline is low.
But let it show its strength, I might miss 10-20% profits being re-active and not pro-active but I might save myself from a 50% or so loss, as if it breaks the 50 day mvg. avg it will test 45 next imo.
Nasdaq will be down is Apple is down huge, remember Apple is given the highest weithage in Nasdaq100.

I got RIMM ( research in motion the blackberry maker ) today which is a member of nasdaq100. But RIMM is up as Apple is its biggest rival.Not a good reason to be up I would say. i would rather they go higher due to some good news from RIMM.
But I am a bit Apple inc, the company fan. I like the imac's etc. I hope Steve Jobs is fine and comes back soon.Good luck to him.

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