But the co-founder of StockTwits is in sell-the-rally mode, so this may be a trade, not an investment.
From a post that landed on my desktop Wednesday:
So what to do now?
I am buying more Apple.
I bought some at $201, $191, and yesterday at $178. I buy stocks like Apple when they are down 20-30 percent from their highs. Apple is on my 8 to 80 list.
Of course, this could be the beginning of the end. Apple may be the next GE or Nokia.
The new Google Android Phone with the better camera may be the beginning of the end for iPhone’s dominance.
I’ll take my chances though.
He adds here, “for the faint of heart” a chart of Apple corrections since 2008 that does not reproduce well. His conclusion:
I am in STFR [sell the f… rally] mode so if Apple does rally 10-15 percent quickly, this investment will likely be a trade.
My take: I recently subscribed to “Howie’s List, so I don’t know much more than the StockTwits bit. I am told, however, that he has a large and influential following.