I’m not budging and am rolling over (to my Roth-IRA trading account), the remaining funds from my 457(b) which managed over the past year, a truly lousy 3% gain (so much for having a diversified portfolio).
I make note of this because I see people on investing boards griping about the Apple bashing on CNBC and on certain investing blogs and forums. I still don’t get why people continue to watch CNBC since it is mainly financial infotainment and rarely contains detailed analysis (I would never rely on it when it comes to performing due diligence for example). Their main objective is to garner eyeballs and what better way then to jump on trends. Bashing Apple seems to be back in vogue now and while I wouldn’t classify all of the negative wire crossings as a coordinated attack, it also would not surprise me if the FUD is being laid down in order to get the HFT algos to drive the price down to setup their next trade. How far down it can be driven depends on what the negative flavor of the week is when it comes to other domestic and global news.
Which is why it would be nice if Apple had at least some sort of share repurchasing plan in place which can be executed in such times. I’m not talking about a shotgun approach as a means to push the price up. What I’m suggesting is Apple would repurchase shares based upon their own fundamentals such that when all this HFT selling and price pinning based on options expirations occur, the company can buy back those shares on the cheap (reducing the outstanding float has the added benefit of increasing earnings per share).
