Wednesday, October 13, 2010

Apple’s Stock Hits $300. Baaahaaa!

2010-10-13_1104

It’s been no secret on here that we hate Apple stock.  If you are a decent trader, it’s been pretty easy to ride this pig.  But we have written ad nauseam about the bubble it is.  It’s so ridiculous to listen to bozos, I mean analysts, prattle on that Apple’s stock at $200 or $300 a share because of the iPhone or iPad.  This is the same pump and dump bullshit fed to people in the Wall Street-induced internet bubble. 

Apple is at $300 a share because we have an out of control financial system manipulating the stock just like the price of oil is being manipulated or as housing was being manipulated or just as our government is being manipulated. 

Apple is conservatively trading at 300-500% of the Dow’s valuation in 1929 depending on the metrics being measured.  We all know what happened after 1929.  The Dow fell by almost 90%.  This isn’t new to long time readers.  We wrote that Apple’s stock was headed for the dung heap back  before the 2008 crash.  And crash it did.  But with plenty of new fuel provided by the Federal Reserve, our crooked financial system is back to the same old tricks.    

Today Apple hits the 161% Fibonacci projection.  This area  will more than likely provide very stiff resistance going forward. 

This is going to end very, very, very badly. 

posted by TimingLogic at 11:16 AM

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