Apple has taken a dive. In
the last issue I wrote that
I had just gone short; this was
at $124 a share and as I write it
is at $114. In a strange way this
neatly demonstrates the
difficulty of stock speculation
because, like all good traders,
I put a 5% stop loss in. Apple
shot up to $133 before it
slumped, so while I can say
I was correct in my guess of a
falling Apple, I lost money.
It is theoretically impossible
to time the market, so calling
the top on Apple must only be
the vaguest of gestures. Yet the
Apple Watch may be a bearish
wake-up call for some stock
fans. It has nice bits but it isn’t
set for $18 billion sales in year
one as predicted by Wall Street.
Apple’s imminent releases
will need to come to the rescue
because the ‘new’ miracle
product just isn’t. It doesn’t
help that the market as a whole
is looking sickly. It will take a
fairly significant set of negative
events to get Apple under $100,
but this year has already seen
sudden and violent market
moves, so it could happen
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