In my view, AAPL is going to go to $200 or above by late summer. The fundamental momentum in this stock is amazing and major catalysts are on the horizon. Yes, relative to fundamentals, the stock is cheap. If I am correct, AAPL is going to drag the NAZZ and the entire market up with it.
In terms of a short term trading idea, it has recently been profitable to go AGAINST the more established trading patterns of the past six months. Too many traders are on to these patterns and thereby they no longer work.
One tried-and-no-longer-true pattern has been for a strong 2%+ up day to be immediately followed a slightly weak day – 0.5%-1.0%. My guess is that traders may have been gunning for that yesterday.
As I posted recently, I think BAC is probably worth around $40 right now, as opposed to about $11. As soon as they are officially done with their capital raises (or slightly before) look for a rash of analysts to upgrade the stock with target prices in the mid to high $20s. This will move the stock and the market as a whole. Once the “flippers” from the secondary deals are cleared, this stock may take off like a rocket.......
Position: I will be long very soon in BAC and AAPL common and/or calls
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