Apple...Adios

First off, what a great group of readers who kept me up to speed while I spent 7 hours on a bus today to Montreal. Better than any website.

It is a sad day for sure. I still love Apple, but the stock no more.

It’s been one of my best rides, but it is over for now. Analyzing the numbers and opinions is futile unless you want to buy broken momentum stocks.

Apple is in no man’s land now. It will take time for the stock to heal no matter how well the company does.

If you don’t think we crashed over the last few months, you don’t own financial stocks. We crashed. Today, E-Trade had a serious 5 year high of logins and they were not logging in to buy. They were selling. That’s bullish, but there is so much time and so little leadership that there is no reason for me to game it as a bottom.

The S&P could rally 10 percent here because of the financials, but it’s just noise.

It hurts to kick out my number 1 position and give back profits, but no strategy is perfect. The trend followers have had 3 great years, especially in stocks. It has been easy.

I don’t put in the time enough to trade anymore, nor am I willing to, so I won’t. There are other great blogs on my blogroll that will do that. I still think the average investor should do less right now. Build lists for the next eventual phase of leaders.