“wondering if you have thought about this play…steve jobs resigns APPL is going to go down today ovbiously…bernake speaks tommrow on how he is going to boost economy…i think i see swing trade if thats what you want to call it…waht do you think about appl and whats going on with the economy right now over the next few days…i think i see a opportunity to make some money…”

I really don’t think this is a market you want to be speculating in. The swings are just too dramatic for anyone to fade. And stops in this type of environment are useless.

Also the people I follow are short this market and have gotten 100% short this week. They anticipate 900 as a real possibility on this down side move in the markets. And they expect it in the near future. In addition they have been short apple for almost two weeks now with a downside target of around 220!

Now this doesn’t mean this will happen but they have a pretty good track record:)

RickJ

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  • reggie noble
    Reply

    Rick, I have 2 questions. When you talk the market down to 900: are you referencing the S & P 500? And, when you talk about the people that you follow, are you at liberty to share their company name for those of us who sometimes (badly) need someone for investment advice. I’m particularly talking about portfolio advisors etc. Thank you Rick for all the sharing that you do on your knowledge on sports, poker, investing, etc. I know that the vast majority of us appreciate it.

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