Monday, April 16, 2012

Apple Moves towards a Buy

Today, Apple Inc. (AAPL) continued doenwards. At a good margin below $600 for me it is beginning to look attractive.

There is some speculation that Apple has burst its bubble, but I believe that all this selling of the Apple stock is merely large investors taking profit and moving into other stocks.

This idea , I think, is supported by the move of the DOW upwards while the S&P and NASDAQ lingered or fell. Apple Inc does not form part of the DOW but does contribute to the other two market groups. To me this indicates money from Apple stock profits was being moved into DOW component stocks, supporting that market while hitting the other two.

At these new levels Apple Inc. is looking more attractive and I am looking to move some cash into that stock if it falls to $550.

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