Buy Apple (AAPL)   Leave a comment

Before anyone gets the crazy notion that I’m turning into an Applehead, let me quickly dispel that idea: I still consider Apple a bad long-term play. With that out of the way, I do consider it a good short to mid-term play, over the next few weeks up to a couple of months, mostly due to their China Mobile deal and their strong phone sales from the 4th quarter. The China Mobile benefit won’t show up until their 1st quarter financials, so I have a few months to play with this one.

On top of this, Apple is also at the bottom of the upward channel they have been in since June of last year. Add in the stock is oversold on the Williams %R daily technical, plus it is near the bottom of the Bollinger Bands, and Apple looks ready to reverse course.

I bought AAPL at $539.21 today. If I can get a quick 10% pop (within the next week or so), I will look to sell it. Otherwise, I may hold it into April and see what I can get.

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Posted January 9, 2014 by edmcgon in Portfolio Moves

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