Apple, long beleagured by the media (so what else is new?) appears to have made a double bottom. Fundamentally Apple is still and has been one of the most important companies in the world, though Steve has moved on to the cloud. It is very buyable at this point. Stop 4% under the nearest low.
A new mood seems to have set in Friday. Exactly what it is we are not yet certain — perhaps the temper tantrum the market threw when Helicopter Ben took away the helicopter has passed. Only time will tell. But it looks like the gold slide has abated for the moment so we closed our short gold position ( with about 16 or 17% profits) — but left shorts in silver the euro and bonds intact for the moment.
If we were going to do Apple we wouldn’t sit around on it. If the funds decide to get back on board it won’t be cheap long.