JUST LETTING YOU KNOW
Apple (AAPL) came out with the iPhone 5 today. Preorders are September 14 and we’ll see how many are sold and that’s what the market’s going to look at.
Apple stock today, when all was said and done, was up 3…down 3…up 3…down 3 – it wasn’t even moving. Except someone was lying in the weeds because it did finish up 9 on the day and, to be clear, it was down 3 at 3:30. At 3:40 Apple was up 1.
Apple went up 6 in the last five minutes…and is up another dollar in the aftermarket.
To be clear and blunt here, my guess (which means absolutely zero) is that they’re going to sell a bunch regardless of whether it’s worth it or not.
I’m reading a bunch of smart people on the web. One guy came out and said, there’s nothing to it. There’s no reason to buy it, except that it looks better here and there and maybe has a longer battery life.
Other people are acting like it’s the 2nd Coming.
So we’ll let the market decide.
Technically, the Apple went back into the range is been in for the past four weeks and that’s the market’s going to look at.
Again, it sickens and disgusts me that we have to wait for the head of the Fed, Ben Bernanke and his minions to come out with more policy tomorrow…after teasing markets going into Jackson Hole basically telegraphing more printing of money.
This dude BETTER announcement more printing of money tomorrow. Here’s why:
If it doesn’t, there goes the market. This dude has set the market up. And you know me, I had the money printing, interference and manipulation.
But the other side of the equation is that if he screws Wall Street, it may not be a very good day. But I have to figure that because he is a political hack who wants to keep his job which means getting Obama re-elected, he’s going to do everything possible.
Now, here’s the other side of the coin. What if the market sells off on the news? We’ll cross that bridge. All we know is that the S&P 500 has moved out of range. The Nasdaq has moved out of range. Other areas have not, but they’re just right behind.
All we can do, if distribution starts to rear its ugly head, is deal with it if that occurs.
We’re having a contest. Name the Dow at the end of the year. We’ll give out a $1000 in cash to each of the top three guessers. You’ll have until next Tuesday night. You just have to email me at GaryK.com what you think the Dow will be at, at the end of the year. I just need your name and the city you’re emailing from. That’s it. If you want to put your phone number, that’s fine.
6-7 pm EST
Best of Investor’s Edge
Saturdays 1-2 am EST
Gary Kaltbaum owns Kaltbaum Capital Management, LLC (“KCM”), an investment adviser registered with the U.S. Securities and Exchange Commission. The opinions expressed herein are those of Mr. Kaltbaum and may not reflect those of KCM. The information offered in this publication is general information that does not take into account the individual circumstances, financial situation or individual needs of an investor. The information herein has been obtained from sources believed to be reliable, but we cannot assure its accuracy or completeness. Neither the information nor any opinion expressed constitutes a solicitation for the purchase or sale of any security. Any reference to past performance is not to be implied or construed as a guarantee of future results.