Apple shares took a violent turn for the worst today by dropping from $171 to $153 within minutes.
With such rosy prospects ahead for the next few months I couldn't' understand what else would have caused such a dip. For a brief moment I feared the worse... Steve Jobs... was DEAD!!
Thankfully the old 'turtleneck' is alive and kicking.
It seems (although hard to entirely pin down) the cause was due to the big boys manipulating the market, coupled with nervous investors worldwide.
I thought 'Pump and Dump' was illegal, but it seems to be alive and kicking, as two posters on Yahoo Financial forum today summed up...
"this kind of manipulation BS should be prosecuted"
To the reply of: "it happens all the time, its part of the game!"
Shares are currently trading After Hours for $160.80, and I would say this is another opportunity to advise on investing...
Buy today, and if you are looking for a short term gain the 23rd of October might be worth keeping an eye on, which is the day after Apples fourth quarter financial results (which will beat expectations by quite a margin).
Then we have Leopard being announced shortly after, the results of which are harder to predict, but to be on the safe side I would sell the day before and capitalize on the hype.
Otherwise, just hang in there and enjoy the ride...
:)
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