by Travis Johnson, Stock Gumshoe | June 12, 2009 12:16 pm
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Source URL: https://sgumdev.stockgumshoe.com/2009/06/too-much-information-what-would-peter-lynch-do/
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Travis, as always you deliver a thoughtful and articulate perspective on both Amazon and Apple. Like yourself, I have been an Apple user for a long time – got my first machine back in 1983, however work related circumstances forced me, kicking a screaming into the PC world. I have always said, that if you want a good reason to buy a Macintosh, spend a few years with a PC and keep an open mind. I did own some APPL when it was trading in the low 20’s, but have avoided buying more stock as the p/e grew. Too many people follow the company, too many people love the company (including myself), and the stock is just too visible and too expensive and it rests on a much smaller consumer base than Amazon. Perhaps it deserves its high multiple, but this makes me nervous, as does Steve Jobs health issues. A richly valued stock in a volatile market is not conducive to a good night’s sleep – at least for me.
The markets are at a key inflection point NOW. I expect an imminent breakout. In fact, a large move could occur as soon as this next week. Which direction is uncertain! The short term trend is sideways. The intermediate term trend is up and the long term trend in my opinion is still down. It might be prudent to wait for the Index to break out to new highs before purchasing Apple. At the least, I would use a tight stop or have some sort of hedge in place…
I am bearish on the market and just thought to advise Travis to AT LEAST wait for a breakout before initiating a position.
I missed the majority of this up move, only benefiting from some intraday positions in the emini because I think it’s just a matter of time before the bear market reasserts itself (could today be the start?). In fact, my main trend indicator has been bearish since 11/23/07. As I said previously, IMO the long term trend is down.
I cannot see the June 19th or June 26th Friday File no matter what I do. I have refreshed but still not help. this is latest one I can see. Please advise. email@example.com
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