The Deipnosophist

Where the science of investing becomes an art of living

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Location: Summerlin, Nevada, United States

A private investor for 20+ years, I manage private portfolios and write about investing. You can read my market musings on three different sites: 1) The Deipnosophist, dedicated to teaching the market's processes and mechanics; 2) Investment Poetry, a subscription site dedicated to real time investment recommendations; and 3) Seeking Alpha, a combination of the other two sites with a mix of reprints from this site and all-original content. See you here, there, or the other site!

06 February 2006

Apple/AAPL & Jim Cramer

I understand that, during Friday's market activity, Jim Cramer counselled his legion of followers to purchase Apple/AAPL. "That it is done going down, [and it now is] time to buy it."

I disagree. And so do the readers of this blog. Here is only one email...
"It looks to me like AAPL is starting to break down. It's failed the attempt to move above resistance at 75 and now down side volume is increasing. Also, the 50 SMA has just been breached on a closing basis. Last stop (or line of defence) looks like 70. If that's broken I suspect the 200 is the next stop (but that's a lot of pain). Wow... I think I'm starting to see much better."
Good on you! Apple/AAPL shares likely will not decline as deeply as you fear, but more than Jim Cramer suspects.

BTW, included among this blog's comments is
this prescient observance that indicates one person sold (at $85.41) -- very near the all time high.

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