October 1st, 2008
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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Jason D. O'Grady is the editor of PowerPage.org, which has been publishing daily mobile technology news since December 1995. For disclosures on Jason's industry affiliations, click here or to view Jason's full profile click here.
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