I did not purchase apple yet. After reviewing chart, I set a new, lower bottom fishing price target which is $350ish. I expect a disastrous quarter, a massacre if you will, of the stock on its 4th consecutive earnings miss.
When the sell side capitulates with a final estimate crap out, and the stock is described as a value trap, I would be more inclined to purchase. If I miss it at $395, so be it, I am already overweighted in technology.
I also did some serious work on gold stocks. I did not find one I liked. I thought I would have but here’s the problem. Many have costs approaching $1100-1200 per oz all in. And there is not unit growth. And they produce little free cash flow. So even with ostensible low p/e ratios and decent yields and leverage the metal. I am gonna pass.
If I thought gold was right back to $1800 I would buy. But I am not certain gold bear market over.
Intel my favorite long idea now.
The Platinum Chat Room is open to all visitors during April. To continue after that, please sign up for a Platinum Subscription. You can visit the Wall Street All-Stars Training Center (hosted by Scott Rothbort) for free anytime.Choose a user name for the Platinum Chatroom and type your comment or question for the Wall Street All-Stars.
------------------------------------
Speak Your Mind