From $327 down to $224 and back up to $315.
Below: Apple vs. the S&P 500 from Feb. 12 to May 18 (by % change):
Click to enlarge.
2 weeks agoApple’s V-shaped recovery
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2 weeks agoBelow: Apple vs. the S&P 500 from Feb. 12 to May 18 (by % change):
Click to enlarge.
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All the best to all longs!
The markets are acting weird now! Based on Chairman Powell’s exertion that we will continue to print “unlimited” amounts of money and on positive signs in developing a COVID-19 vaccine that Dr. Fauci says will not be ready at the earliest until late January next year, the markets are off to the races closing up over 900 points and Apple up over $7.00 a share.
The markets are over value now. Market watchers pretty much agree markets are over valued. There is a hurricane of ominous clouds with sputtering rain and high winds approaching the economic landscape and market participants all are having a Hurricane Watch Party out in the beach house on the cape as the approaching economic tsunami comes ashore. It is unbelievably crazy.
I don’t care how much liquidity the FED pumps into the economy through the banks that loan the funds out, banks can’t be making loans to folk and to businesses who most likely later will default. What is it about that premise am I missing?
I can’t help but believe that the markets are positioning for a sizable pullback, not to the previous March lows but sizable enough to provide another opportunity for more Apple shares at a bargain. The markets in many ways are levitating on loose sand.
I anticipate one more pullback for using my last tranche to nibble more Apple shares at bargain discounts. Then come the fall launch of new products and on into next year and early spring we will see Apple climb to $400 by April 1.
To date, Apple has recovered back to its high of January 13th, 4 months ago. The peak wasn’t hit until a month later, February 12th. Apple only has to gain another 4% to match its all-time high….