Riding the AAPL seasaw

Summary:On Monday Apple shares shed 17.7 percent of their value closing at US$105.

Riding the AAPL seasaw

On Monday Apple shares shed 17.7 percent of their value closing at US$105.26 amid all the market turbulence. Some investors took advantage of the sharp decline as a buying opportunity and loaded up on AAPL at fire sale prices.

Although buying AAPL low paid off in the short term (AAPL closed Tuesday at US$113.71, up 8.45 points), that strategy isn't necessarily paying off today. Apple is trading at around US$108-109, off about US$5 from the Tuesday close. Still better than US$105, but not by much.

While you shouldn't be day trading unless you know what you're doing, it's important to keep an eye on the portfolio in light of the major swings in the financial markets.

(Note: I don't hold any AAPL stock as stated in my disclosures.)

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Topics: Apple, Banking


Jason D. O'Grady developed an affinity for Apple computers after using the original Lisa, and this affinity turned into a bona-fide obsession when he got the original 128 KB Macintosh in 1984. He started writing one of the first Web sites about Apple (O'Grady's PowerPage) in 1995 and is considered to be one of the fathers of blogging.... Full Bio

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