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Don't Trade on Opinions When It Comes to Apple

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At this point, wait for either an approaching oversold level to begin a new position or an upgrade back to a Buy.

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MINYANVILLE ORIGINAL By now, the investment world has opined on Apple (NASDAQ:AAPL) enough to make investors dizzy. Trading on opinions is a good way of losing money.

Readers emailed us asking what to do now with the name since we downgrade the stock this past Monday. Readers had a good opportunity to sell Apple on Monday; the stock closed at $634. At this juncture, we are waiting for one of two catalysts: (1) an approaching oversold level to begin a new position or (2) an upgrade back to a Buy (4 rating). Until further notice, we are staying out of Apple. Our advice to investors: Sit on your hands and let Apple come to you.


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