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Technology Stocks : Apple Inc. -- Ignore unavailable to you. Want to Upgrade?

To: Jaidev Sharma who wrote (17403)	8/29/1998 3:02:00 PM
From: FelixV	Respond to of 213173

I've been looking at the AAPL chart, and I'm not so sure we are necessarily gonna hold at 34. We could, of course, since a 33% retracement from the 52 week high would put us around 33 11/16. However, the 50 day MA didn't hold and support after that doesn't look really good until 30 and then 26 which is where the 200 day MA is. We ended Friday on the low of the day as well. Although Seybold might lift us up a little, I presume this would be a short-term effect. If the general markets keep unravelling, however, we could be in for some pain. Now, I love Apple and the fundamentals look great (big thanks to Eric Yang's efforts are in order at this point!), it's just that investor's seem to be in a general dumping mode at the moment and just want to lock in profits. Bear in mind--no pun intended--that I only believe any of this to be a possibility if market tankage continues the way we've seen it over the past few weeks. With the current worldwide problems, I just don't see it any other way. Any thoughts are highly appreciated. I'm flat on AAPL at the moment. It constituted over 80% of my holdings until very recently, and I had been buying since the beginning of the year. I am 100% cash now and am looking for the right strategy to re-enter AAPL with an eye on Q4.

To: Jaidev Sharma who wrote (17403)	8/29/1998 3:46:00 PM
From: Phillip C. Lee	Respond to of 213173

Jaidev, I share with your thought on AAPL's future prospectives in price trend. However, the damage has been created in the last 2-3 trading sessions without any reationale. If you carefully look at # of "hold" rate at AAPL, you would notice that the number has been reduced from 15 to 12. This means three out of 15 have been sitting on the fence and have cashed in their holding as the overall market slided. They are purely speculators on AAPL and hence nothing we could do about it. I think maybe they need cash to amend their big holes in Russia bond investments. Who knows? Europe countries have their own reasons why they need united currency. If without it, each country in Europe will be easily attacked by international currency speculators, e.g. Soros' Quantum and Tiger funds, who attacked most of Asia countries and currently aiming at Hong Kong and China. Well, Asia countries need to work together to fight back those speculators and US needs regulations to constrain speculators rights, otherwise, eventually, the chain reaction will haunt back to US. If AAPL is unfortunately one of their target directly or indirectly, there is no way to predict the near-term trend. That's another reason why I hold AAPL as a long-term investment. Phil