AAPL: 19 Days and $30

Apple Logo

So about 19 days since my recent blog about how I was going to buy back in to Apple after it dipped to $113, it now sits at $144 as of today’s close!!

I really don’t want to be a day trader, I just don’t have the time during the day to keep an eye on things, but I guess it is times like this when people fool themselves into thinking they can make a living at this! My limited experience in golf tells me that it works on the same principle… golf wouldn’t be nearly so popular if people didn’t get lucky once in a while:

<CRAAK> I hate golf!!

<CRAAK> I hate golf!

<CRAAK> “Hey, nice shot! “ I LOVE golf!!

Back to AAPL: So, when to sell? I was planning on buying and holding until past Christmas, but with how quickly this stock is approaching its 52-week high, I may sell and take a breather during the usually crummy September stock market season. I always kick myself when I don’t stick to the plan…

Lets see what tomorrow brings…

[September 5th]

Having the night to think about it, I decided to not be too greedy and cash out at $144.10 to leave some money on the table for the next guy (not too much I hope!). I will look to get back in over the next few weeks.

[September 5th – Later in the day…]

I felt a little worried selling the stock just before the big news conference on the new Apple products, but I thought, unless Steve & Co. created another miracle, the expectation would already be in the price.

But I still was very surprised when the stock dropped $6 pretty quickly after the news was actually released.  The products look awesome, but I don’t think it surprised too many people that there was an iPod Touch, that looked an awful lot like an iPhone without the phone bits (and WiFi).  Clearly they would not waste all that good R&D on just the iPhone…

So… I bought back in at $139.31… not as big a stake as before.  I will see what happens over the next few days, and I may use the cash on the sidelines to increase my position.

The only thing that worries me is the big drop in the iPhone price… not what I expected.  I suppose they are going for more share to make money on all the iTunes ringtone & song purchases that it may bring.


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