Friday, September 7, 2007

Apple (AAPL) in similar position to Sandisk (SNDK)

Posted by TraderMark at 12:16 PM TweetThis
Both have very similar technical set ups, falling to their 50 day moving averages ($130 or so for Apple) so to be consistent I added to my Apple (AAPL) position here as well. Essentially the same reasons as my previous post with Sandisk (SNDK).

Just for bookkeeping, I reduced my 3 large short ETF positions by about 15%; just to lock in some profits. Still expecting more downside in the coming weeks.

But I like these specific tech names to hold up relatively well; or at least outside of a waterfall selling event as we saw in mid August....

Long Apple in fund and in personal account

Posted by TraderMark at 12:16 PM

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