Remember When Apple Was Going to Be 1st Trillion Dollar Company?

In the not so distant future everyone in their brother were buying Apple and touting that it was going to be the first $1 trillion dollar company. At its all time weekly closing high of $705 Apple was valued at $663 Billion. Don't get me wrong, I love apple but really a trillion dollars. The at some point the market ran out of buyers and over the preceding 8 months the stock lost $300 billion in value.

Why am I telling you this? Its to make a point that things do not go up forever. Eventually we run our of motivated buyers and eventually we get to a place where people need to take profits. The crazy thing is that it usually takes an overdone and overhyped move to act as the catalyst lower.

As I write this the markets are making yet another all time high at 1,637:

I admit that I have no clue when this market will finally correct, but I also still favor playing the downside when thinking about risk/reward. Although my portfolio is short delta, this does not mean however that I have not been taking on any long trades. I have and will continue to play the upside as I trade around my short position until the market finally starts moving in my direction. The ultimate goal at the moment is to keep losses as small as possible while I wait out the market.

Why am I short? Because I don't like the prospect of entering into a position at all time highs. Obviously I don't know which "All Time High" will be THE ONE, but eventually we trade lower off of an all time high and I have obviously been early the past 5 weeks.

Good Luck Trading!

In The Money Trades

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WOW! I think that sums it up

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Stay Small, Stay Out of Trouble

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more good news from FXStreet : Tom Fitzpatrick, senior technical analyst at Citibank in New York. Monday, July 15, 2002 "Parity is a psychological, not a technical level...and whether we pause around parity or not, we are likely to see significant further dollar losses...Our initial target is $1.03 to $1.0450. If that level is taken out, it actually casts a question mark against the whole of the dollar's rally of the last seven years, and could open up a full-blown bear market for the dollar." Julian Jessop, chief European economist at Standard Chartered Bank. Monday, July 15, 2002 "The dollar is under pressure from everything from economic problems to asset reallocation away from the U.S. and corporate accounting problems. It's difficult to see any positive factor for the dollar at the moment. The root of the problem is the U.S. current account deficit. If the U.S. doesn't have to attract an enormous amount of foreign capital, people wouldn't have to wor...

Forex Is Crazy

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