AAPL at 124 and dropping like a rock...

[jonnyfrank]

Some consider AAPL a canary in the coal mine......below 130 now. Thoughts?

[chippermon]

Some consider AAPL a canary in the coal mine......below 130 now. Thoughts?

My thoughts. AAPL needs to go to 107.05 before it can recover. If it goes through 104 look for 81.

[jonnyfrank]

Some consider AAPL a canary in the coal mine......below 130 now. Thoughts?

My thoughts. AAPL needs to go to 107.05 before it can recover. If it goes through 104 look for 81.

Are you shorting it then?

[SOL]

The time to have shorted apple would have been around March 2022. Still, one can only make statements like that after the fact. There were many other times when AAPL was trading in the overbought ranges where you would have to hold for months before the short worked out, and during that time, many might have lost their nerve. In retrospect, I can say that shorting over the long run looks easier than it really is. I remember the few times when I focussed on shorting; while net-net, it worked out. I lost more when I considered the upside I missed on several plays due to my fixation on shorting

However, if you are able to short without losing focus on the eventual long trade, then kudos to you

[chippermon]

Some consider AAPL a canary in the coal mine......below 130 now. Thoughts?

My thoughts. AAPL needs to go to 107.05 before it can recover. If it goes through 104 look for 81.

Are you shorting it then?

I have been buying puts. TSLA too, but am now covering or will be soon on these and others. Nothing goes in a straight line for too long. At present I am looking for a rally into the middle to end of this month. I will assess the situation at that time but for now I see that as another opportunity to purchase some more puts. Maybe build some more cash in a few other holdings. Come middle of March and April I will be looking to build a long term stock position so that may be the end of my SHORT TERM downward bias.

AAPL is a funny one. It's the worlds largest company. Lot's of different investors small and large. it can be swung easily in different ways for different reasons and it will have an effect, in general, on the market as a whole.

Don't forget, I'm letting the charts tell me what to do. Those numbers above could change next week. this is how I see it now.

I like Sol's assessment. This will be a trader's year but I think there will be opportunities for holding some stocks for longer periods.