April 25, 2012
– Comments (2) |
RELATED TICKERS: SPY
I am jumping ship.. and headed for a Deserted Island to escape the upcoming market storm.
Nothing better than leaving on a day the Market is rallying nice and strong on the fumes of AAPL earnings.
Congrats on your AAPL call yesterday... nailed it! Your sudden change in market sentiment is a bit surprising though. You've been a perma-bull here on CAPS for about as long as I can remember. What made you turn bearish at this particular point in time?
Stockdatamaster, I have followed cycles. While I don't get rid of all my stock picks. I have in the last 4 years switched to man Bear ETF's during cycles which are historically known for being down. May-June period is a historical down part of the market, Especially during this European crisis. Another thing that is worrying me is that while 84% of companies have beaten estimates this qtr the same can not be said about their next qtr guidance, even AAPL came in lower than analysts had expected going forward. Yes AAPL did beat this qtr but it did not rally because of guidance, it rallied because too many realised they would miss on guidance and shorted ahead of earnings. This in net effect caused a short squeeze for one day, I will bet they start going down again.
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