Here’s the low down on AAPL. $700+. Time to sell…or buy? (September 18, 2012)
I’m Dan Fitzpatrick at StockMarketMentor.com on Tuesday, September 18th. Apple ( $AAPL Apple Inc ), I’ve talked about this in this venue, the Free Chart of the Day, from time to time, actually quite a bit I think; we’re finally above $700.00. It tested it here, it got almost there, like $697.00, then yesterday, didn’t quite get it $699.00, 20 cents less, but it did clear it after hours and finally, for the first time, it closed above $700.00. What does that mean? Well that means the stock is now in the $700.00’s as opposed to the $600.00’s; it’s only slightly more overbought than it was before, but this is really the chart that you need to look at, we’ve got more acceleration in the uptrend, we’re kind of at this mode, now it’s kind of like up along there, so you can see the acceleration is in fact steepening, but these bands are just now starting to expand. So this can go a while, the stock is cheap, the company is cheap, buying a share of Apple ( $AAPL Apple Inc ) for $700.00 is a good value. The reason I’m saying that is because you know that money managers aren’t going to be dumping this stock when he gets up to $710.00 because it’s too expensive. It’s been right to own Apple ( $AAPL Apple Inc ), and frankly as a money manager, if you haven’t owned Apple ( $AAPL Apple Inc ) it’s very unlikely that you have outperformed this year, you’re probably struggling. There’s going to be, in my view, a push to continue to own Apple ( $AAPL Apple Inc ), to ratchet up your holdings, and earnings take place, pardon the frog here in my throat, it’s not really a frog, but earnings take place, I forget the exact date, it’s like 28 days from today, I just know that, So they’re in mid October, this has room to run, this is the chart that we’re looking at right here, that’s the one that matters to me. So I would still be buying Apple ( $AAPL Apple Inc ) at this level. Now that leads me to something else, over at Option Market Mentor, we actually have four different trades going on Apple ( $AAPL Apple Inc ) right now, and they’re all profitable. We got the $700.00 calls, we’ve also got a Bull Put Spread, a credit spread, we’ve got a Bull Call Debit Spread, we’ve also got another Bull Put Spread, so we are making money over their and here’s all you need to do; you can’t enroll for Option Market Mentor today, that doesn’t start until tomorrow, but you can get on the email list if you just go over to Option Market Mentor this is what you’ll see, but on the right side of the page you can just sign up for the email list, or you can wait until tomorrow and just visit and sign up. Here’s what it is, it’s $7.77 for a month, if you don’t like it after a month we’ll give you your $7.77 back, so we’re not asking for a lot of money just to check out the service; I’m making this is the easy as I can for you without the credit card companies coming down on us. The way that system is now, because they have changed some rules, we can’t give you a free trial, we just can’t, we have to charge you something, I’m charging you $7.77 and I’ll give it back to you if you don’t like it; so get over there please, get on the email list. If you’re not interested in options at all then certainly shut me off here, don’t listen to it, but if you are interested in options or even wondering if you might be interested in options; if you like these videos, the Free Chart of the Day videos, if you like the Stock Market Mentor videos, if you’re a member then give this a try. It cost you like one commission at Scott Trade and I will give you that commission back if you don’t like it. Okay, this is me beating that dead horse one too many times. I’ll see you here next time and I’ll see you over at Option Market Mentor. Free Chart