I have a confession to make.
I believe Apple stock (Nasdaq: AAPL) is going to be world's first trillion-dollar company yet I want to short the snot out of it.
Am I being compulsive?...impulsive?....or foolish?
Perhaps it is all three considering that Apple has risen more than 3,000% in the last ten years, turning almost any attempt to go against the grain into a "widow maker" trade.
I say almost because I am one of the lucky ones.
A few weeks ago I recommended my Strike Force subscribers purchase put options on Apple, effectively shorting the stock. That resulted in a 47% profit in less than 24 hours for anyone who followed along, excluding fees and commissions.
I'm not alone in my thinking.
Uber investor Doug Kass, general partner of Seabreeze Partners Long/Short LP and Seabreeze Partners Long/Short Offshore LP, tweeted recently that he had covered "half his short" on Apple following the announcement of their dividend and buyback plan.
Given that the stock had run up to nearly $608 a share before the announcement, presumably Kass had banked some gains, too.
I haven't spoken with Mr. Kass so I can't comment on his current thinking nor the specifics of his trade, but here are mine:
Add it all up and there is enough to make you go hmmm...
Of course, there is no doubt I will incur the wrath of Apple fans everywhere and arm chair traders from here to Tibet.
Get over it guys; please refrain from the snarky e-mails telling me I'm an idiot or out of touch or worse - I believe in Apple. I really do.
What I am suggesting is simply the logic behind Apple as a trading opportunity for nimble, aggressive and like minded market mavens.
Besides, if I am correct and Apple does trade lower in the weeks ahead, I'm going to be picking up shares as an investment.
I hope you will be buying too.
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