For the first time in almost three months, Apple is trading below it's 50 Day Moving Average. Like the last time, it was just before earnings and traders pulled money out of the stock in fear of a bad report. Last quarter, Apple tore the cover off the baseball with crazy results and the stock zoomed to the upside. Is there a danger here of an earnings miss rattling the stock?
If you are long Apple from much lower levels, there isn't anything wrong with taking profit and protecting your wins. Remember, hogs get slaughtered. Don't be greedy. If you bought at 90, hit that cash register IF you are afraid of short term movements. However, if you are a long investor - do nothing I say. HOLD and ride the short term volatility and look for an opportunity to put more money to work.
Short term rating - HOLD
Long term rating - BUY
If you are long Apple from much lower levels, there isn't anything wrong with taking profit and protecting your wins. Remember, hogs get slaughtered. Don't be greedy. If you bought at 90, hit that cash register IF you are afraid of short term movements. However, if you are a long investor - do nothing I say. HOLD and ride the short term volatility and look for an opportunity to put more money to work.
Short term rating - HOLD
Long term rating - BUY