Friday, September 19, 2008

AAPL's wild ride - Summer 2008

AAPL has been down in the dumps of late, along with the greater market. Having sold at $167 months ago, I vowed to wait until it got back into the $120s before I bought back in. It then proceeded to get to about $190 before a pull back, and then again to $180 before starting on a sharp decline.

I decided to buy back in on Wednesday, right in the middle of all the market crash chaos. I bought at a then low price of $131.87, thinking my prediction of $125ish might not materialize. Of course, the falling knife got me, and another 11 bucks was shaved off the price the next day, a drop of 8.5% to $120.68. However, just before close the market rallied, and AAPL ended the day at $134.09 with an intraday high of well over $135. That was a remarkable show of volatility, with 55 million shares changing hands too.

Now at 9 am on Friday premarket, AAPL is sitting pretty at $143.36, over 9% higher than yesterday's close. Let's see if she can hold that value, and then some.


AAPL closed at $140.91, for a gain of more than 5% for the day.