Yet another note on AAPL and the market in general
I put my money where my mouth is last month; when I posted about AAPL's insanely low valuation, I doubled my stake. I was already overweight AAPL to begin with, even though I was playing with 'house money' - I had had my starting capital back years ago; doubling my stake resulted in a 20% allocation to AAPL.
Well, the additional shares, purchased at $402, were showing a 15% gain for 3 weeks of exposure. I pulled the trigger, sold 'em and locked that in. AAPL has more upside, I think, and I'm happy to wait for it with a 10% allocation instead of a 20%; I never like to have all my eggs in one basket.
I think this bull has a little more room to run, by the way, but I think we are starting to exit the realm of value-priced stocks and beginning to visit the low-volume, high-froth time that Wall Street always has when a good long bull rally is starting to get winded and prepare to conk out. I am watching earnings and valuations and charts, and trying to exit any positions where the left-concave hyperbola is changing into a down-concave parabola, taking profits along the way.
For what it is worth, I have no reliance on Fedspeak, unemployment or inflation targets. I have no idea when Big Ben will put the stopper back into the drain by raising rates or stopping asset purchases, but whenever it happens, it wouldn't surprise me. I expect some stalwart dividend paying names to take it on the chin when it does, too.