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Thoughts on Apple’s break out and water inflation

Good morning and welcome back to the Cody Word Wall Street fireworks show, where it ends up smelling like burnt phosphorous no matter where you sit.

Had a a big rally into the close on Friday and Apple’s up another $8 today, which means it’s up about $30 since I wrote this for my TradingWithCody.com subscribers Friday morning:

It’s time to buy Apple AAPL again… I’m going to add to my Apple position today. Apple’s already one of my top 3 largest positions and I’ve got much lower cost basis than today’s quote, but I’m going to nibble on some January 2013 calls, looking around the $650 up to $700 on the strike prices.

I didn’t expect that stock to move that very minute that I sent you guys out that note, but I’m glad I got it to you when I did. At any rate, I’m not chasing Apple AAPL +1.16% now but that doesn’t mean I think this move is over. I think we can see Apple at $700 in the next couple months.

Last week we saw our Revolution Investing “Water Inflation” play, Lindsay LNN +1.06% , go up more than 15% after a blow-out quarterly report. Let’s hit on some Water Inflation news this morning:

I’ve not done any trades so far on this holiday-shorted week, and I’m not sure I will even as I will be working every day this week on continuing my strategy of trying to invest in the most revolutionary companies I can find. There won’t be any fire works here in Alto, NM this week where I was literally putting out a smoldering giant tree root system this morning — 23 days since the Little Bear Forest Fire blazed through here.

And before I let you go shoot fireworks of your own, I want to mention that you can get a free trial for my TradingWithCody.com service, which is not affiliated with Marketwatch, if you sign up before July 4th.

Cody Willard writes Revolution Investing for MarketWatch and posts the trades from his personal account at TradingWithCody.com. At time of publication, Cody was net long Apple and Lindsay.

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