“Watch” for the next catalyst for Apple (AAPL) (March 09, 2015)
Apple ( NASDAQ:AAPL ), why are we looking at this? Here’s why. They had the unveiling of the new watch, which I still think looks cool, but I’ve been to busy trading and managing positions and watching the market to really look at the big presentation. I’m sure words like beautiful were used a lot since that was what was used in the keynote presentation for the last iPhone, for the iPad, this and that and the other thing. I’m wondering if these engineers are that language challenged that they can’t come up with a better description than beautiful? How about awesome, hot, whatever?
Anyway, you can see what happened. Guess when they started presenting? I’d say about here, which would be 10:00 Pacific time on the West Coast out here, stock moves up, not that much but people liked it because it was a watch. Then the stock started trading down, and then finally closed right about where it was trading Friday at 3:00. So the bottom line is we got a big massive move, not that big a move but relative to the way the stock has been trading. We got a move up to here and down to there, prior to that a small little move and even smaller here.
So why am I talking about this? I’ll tell you why, because there’s no more catalysts for this stock until they actually start selling this thing, and then they’ll tell you what they’re sales were on Monday or whenever they wind up doing that. But the stock got added to the Dow Jones, no longer industrial average, last week, I think that was on Friday. I woke up and saw that and I’m going, “Oh my gosh, I think I missed the boat here.” As it turns out, not a big deal, the stock actually closed down relative to the open. Today the stock closed down relative to the open.
So I’m looking at this and I’m telling you I think there’s no more near-term catalyst for this stock, it’s probably going to settle in a little bit. Longer-term, I can just tell you that the trend is up, I don’t know if this is the last hurrah for the stock, I doubt it. But my basis for quote “doubting it” is very simple, it’s because the stock is moving in this direction now, and until stocks stop moving in this direction I expect this direction to continue; and that’s what I’m thinking about Apple ( NASDAQ:AAPL ).
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