Apple is no longer just a crowded retail operation. It is a crowded stock. The tone of the trading action has changed. The amount of news and chatter about the stock has become absurd.
When a stock gets crowded, traders get aggravated and the stock bounces around at their whims.
Nothing has changed at Apple accept is has been accepted by the day traders and institutions as a liquid proxy for technology.
This is a great time to ignore all the news and walk into a store. It is like a “Sweet Factory” with $200 bags of candy walking out the doors.
I hate giving back money in the stock as a trend follower, but I never could call tops and bottoms and spent too much time and money trying to.
Ignore the crowd in the stock and focus on the crowd in their store. Christmas is a monster for them and next year will be better.
They have a freaking iPod express lane :) .
If the market goes down from here, know that Apple will not be immune anymore. The traders are in control.
If you are starting to get uncomfortable with the daily and weekly swings, reduce your Apple ownership to a point where you can focus on the proper crowd.
Disclosure – Long Apple