Hi Bruce,
Do we know for sure that Apple will report on Oct. 15? I was thinking they might go for Oct. 14 instead. Last year they did it on the Wednesday.
Dennis and Sam, here's some support for my potential "market looking for value" scenario. I found it after I made my post, btw:
thestreet.com
I've found her columns valuable in the past. If you don't get TSC, I recommend the free trial, especially in times of turmoil. She points out that the major averages are on top of their trendlines, that we are way oversold, that prices are not collapsing very far, and that certain individual stocks (big names, all) are doing well. Apple is even mentioned favorably, "Sun Micro (SUNW:Nasdaq) continues to build its long base and seems to want to break through that 52 resistance on the next leg up. Cisco (CSCO:Nasdaq) is still a champ. Apple (AAPL:Nasdaq) and Dell (DELL:Nasdaq) have no trouble finding buyers."
Apple has been tracking the NASDAQ on a daily basis for the most part, but not necessarily on a weekly, or biweekly basis, has it?
I don't feel that a crash is here and feel very comfortable putting a lot of money to work on the companies that I feel have had a correction off the highs and are poised to have a great upcoming six months business-wise (eg. AAPL, THQI, NOVL, EIDSY). I feel that pc sales and the overall tech sector are going to firm up over the next six months.
It seems to me that if things were really ugly out there we'd have seen another million shares traded in Apple Friday.
Not exactly predicting an up day for AAPL tomorrow, however. :(
Marc |
