Recent article on AAPL shows that people are no longer going ga-ga at their tech. Steve Jobs is gone, and the "so proud to be gay" CEO is not going to be the icon the Steve Jobs was, especially in a climate of falling liberalism. Everyone wanted to identify with Steve Jobs. He was smart, tough, visionary and fearless. Everyone knew his name. The current CEO is named Tim someone I think. Seriously, I never forgot Jobs' name for a second but I cannot think of Tim's last name. I'm not even sure his first name is Tim! When Jobs shipped product it was the best thing he could ship and he would ride herd on his flagship products and hold anyone accountable if they fell short of perfection.
But now the reviews are like 3-4 stars out of 5. Still good, just not worth a huge price premium. So it will be falling prices and the commoditzation of Apple's product lines that are going to eventually kneecap the stock.
But it was an Elliot wave count, and nothing else, that enabled me to call the most recent top exactly in this post. The waves telegraphed the mood of the herd long before it will show up in their earnings.
While EWI count for S+P and DJIA suggests that wave 1 is about to finish, this AAPL chart looks more like blue 1 finished with the flash crash. Blue 2 is at the 50 fib. So there is a nonzero chance that the next wave down will not just be 5 of 1 but rather wave 3. I must say that UVXY also has struck me that 1 could be done and the recent rally was 2. IF this is true, all Hell will break loose and catch everyone by surprise. Time will tell.
1 comment:
It was more noteworthy to me that, as more and more carriers are stopping financing their sales via subsidized phones with a contact, Apple is picking it up the slack announcing not the price of its new products but the installment amount. A company is at the beginning of its end when it lends money to its customers to buy its products. Or at least it is if the easy fiat credit spigot doesn't generate the same return as it used too. Apple is too late in this game and will reap tears fit venturing down this slope.
Post a Comment