The nature of a market is very simple – for every buyer, there is a seller… and in today’s trading session, someone sold some shares at $526 to someone who wanted it around that price around noon time in New York. From there, it dropped like a rock. This is what I’ve been writing about. For whomever that bought at the high of the day, they must feel like crap for not having just been a bit more patient. Following is a chart for Feb 15.
The stock however is just prime for profit taking and taking a breather. The above including the run over the past few days has “big boy’s” written all over it. Plenty of opportunities will present itself for me to jump on a few more shares over the coming weeks leading up to the imminent announcement (of the details) for the iPad 3. Wash, rinse, repeat (in terms of this stock action).
