“What a day for Apple,” Steven Russolillo reports for The Wall Street Journal. “Shares skyrocketed at the opening bell and the gains kept piling on throughout the session before finishing near session highs. The stock closed up $38.05, or 7.2%, to $565.73.”
Russolillo reports, “Through last week, shares had fallen 25% since mid-September.”
“Monday’s rally was the second biggest of the year (on April 25, shares jumped 8.9% following a blowout earnings report),” Russolillo reports. “It was also the third biggest run-up since the March 2009 lows, according to Jonathan Krinsky, chief technical market analyst at Miller Tabak & Co. in New York.”
Russolillo reports, “For those keeping score, Apple is now down 19% from its record high hit on Sept. 19. For the year, the stock is up 40%.”
Read more in the full article here.
[Thanks to MacDailyNews Readers “Fred Mertz” and “Ellis D.” for the heads up.]
That is why I held mine – up 40% for the year – not too bad
If you’re an Apple long the key is to not get too excited about short term ups or downs. I hated to see the latest correction, but I planned to hold firm. Now that we’ve seen a major up day, I remain optimistic, but not really excited. Still, I’ll take a 5 figure up day in my portfolio any time.:-)
PREDICTED!
Posted this morning:
Apple Physics: What goes down must go up!
http://seekingalpha.com/article/1018071-apple-physics-what-goes-down-must-go-up
I am afraid I have to take credit for this. You see, although I have a strong ong-term bullish position in Apple, I placed a short-term bearish trade on Apple last Friday morning and put some significant capital at risk. It was bound to move against me. 😉
By the way, I closed that bearish position at market open this morning for a smallish loss–more than made up for by my bullish position.
This is not a rally, it’s playing catch up. There’s a big difference since the stock was over 700 dollars a share before. We got a long way before we start rallying again.
Where’s Agent Provocateur’s insightful post? We do SO look forward to his financial wisdom!
“Randian”? Don’t you mean “Randroid”?
You mean the Finanial Crisis that was due to Bill Clinton’s Fannie Mae/Freddie Mac decree to issue mortgages to anyone with a pulse, in a blatant attempt to shore up his political support among lower income voters.
Yeah that one!
And this Jackass was just paraded around by the asshole from Kenya to help him get reelected King Of Americanistan.
There is just no limit to the stupidity of people.