I’ve done very little today and still remain mostly in cash. $AAPL is my only position on the books, and in my opinion a buy here. I know the chart looks terrible, but c’mon 7 straight down days? When’s the last time that happened?
The company also has a shareholder meeting next week, where many are expecting some sort of unexpected news (possibly a new device or shed light on what to do with cash). Regardless of that, the stock is cheap here and I’ve begun accumulating it. It’s the only place I feel comfortable putting my money at this juncture.
As for today action, breadth continues to stink and gold and silver are catching a bounce:
For those interested in today’s hybrid movers, CLICK HERE FOR CHARTS.
See you guys tonight, hopefully with some trade ideas, as of now I got nothing.
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I have followed your guidance on a few trades in the past because you read charts like the best of them.
That said, the whole Apple down 7 days thing = buy made me laugh.