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Message: Off the Subject

Off the Subject

posted on Apr 14, 2010 12:58PM

OK, So I can't figure out what the heck's going on with price action in Kimber right now, maybe I can pick a few of the great brains here involving another stock.

As many of you may know, I am a big Apple fan. You also may know that I have made some money from Apple in the past. I bought a bunch in 2001 when it was very cheap, in the 7 dollar range, and sold out my entire position at $112 a few years ago. Big deal! Look where it is now! At that time, I couldn't imagine it was going to go much higher. Now it's at $245 and I just can't imagine it going much higher from here.

I'm thinking of buying a huge number of puts on this thing. Now, listen to this: I love Apple. My family owns four Apple Computers, multiple iPods and an iPhone. I love Steve Jobs and the whole team there. I grew up in Silicon Valley. I love the company, I just can't see it going higher from here.

All of my instincts are telling me to short it. I can pick up put options that expire in two months with a strike price of $175 for .08 cents each. A couple of you guys out there are great chartists and much more technically savvy than I am. You know who you are. What do you think? Bull

p.s. Might as well make some money while I'm waiting for Kimber to pop.

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