back to blog homepage

Apple, My Nemesis

Apple

Yes, I got greedy.

Based upon both AT&T and Verizon’s reports of slowing iPhone sales, I assumed Apple would report lower sales and their stock price would get a panic sell-off allowing me to buy it as others were in panic mode. Do I feel dumb.

Apple reported earnings that blew away expectations from everyone. Where did it come from? iPhones are now passee’ , it seems – iPads rocked their earnings to the stratosphere.

My plan (is that the best laid plans of mice and Mark?) was to allow them to report, and based upon the target price analysis I posted a few days ago plus the obvious oversold technical readings I’ve circled on the chart above, buy it.

Duh!

Apple reported their earnings after the market closed today and in after-hours trading it was up 8% – ack – not a devastating issue, but I’d prefer to have bought the stock the other day when I decided I should based upon the target price analysis and booked the profit.

What to do now? Invest what you see, not what you believe (my axiom for successful investing) and that means watching the chart for an entry point and to pull the trigger when the opportunity presents itself.

Mark