Do the Opposite!
- Posted by Howard
- on January 23rd, 2008
The temptation from hundreds of emails sent my way was to buy Apple yesterday at $140. I answered every one that I was a seller, not short, just saying a long hard goodbye to the best stock of my recent lifetime.
It is now down below $130. The company is still phenomenal, but that means nothing to a shareholder base that will slowly evolve from momentum to GARP? or Value?
Not my game. Cash is still my game.
Google is the last great stock to go and it is going today, down close to $50. I am tempted but there is no real reason to get long here. The market has no legs despite being massively oversold. That is what happens into crashes.
Better to pay higher prices with the market on firmer footing.
The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.
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Born in Toronto, lived in Phoenix for 20 years and now in Coronado, CA with a loyal wife (15 years, 14.2 Canadian years), two awesome kids and a dachshund. My current start-up is called Stocktwits and I am a co-founder and CEO. More »
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