Here's what you need to do with Apple (AAPL) right now. (January 24, 2013)

Uploaded by stockmarketmentor on 24.01.2013

I'm Dan Fitzpatrick at Stock and on Thursday,
January 24th.
In this video I want to look at
Apple ( $AAPL Apple Inc ).
Look, here's the deal,
I saw somebody on "Fast Money" last week, I don't know who it was, I
and that's probably a good thing,
they were saying definitively that the bottom is in, like the bottom
is in, the bottom is in,
in Apple ( $AAPL Apple Inc ).
if you're
listening to people make calls on CNBC, and I'm not singling out
this guy who ever he is,
if you're listening to people make calls
like this
ask yourself,
can he really do that? Does he or she, whoever
it is,
do they really have that kind of prescience? Do they really have that kind of
that they can pound the table and say definitively
the bottom is in or
this is the top or whatever the reason,
you know, whatever the call is, something like that?
The reason I'm saying that is because I'm trying to,
through these videos as well as Stock and, by the way
guys in the OMM forum, awesome job today, I
understand that was rockin' in there
with a lot of great analysis of some great trades and all the
children playing together really well in the sand box, so I love that, thank you.
anyway, what I'm trying to do here and the rest of the people on my team, is
empower you.
And you know empowerment; you know where that starts from? It starts from
disempowering other people;
in other words
take everything you hear with about two grains of salt, preferably
Himalayan sea salt, which is really, really good,
especially when mixed with almond butter.
But anyway,
things that people say with a grain of salt and ask yourself,
where the heck is that coming from? Again, whether it's a fundamental call or
technical call,
just because somebody's on Bloomberg or CNBC or you hear him on the radio or
see an Internet video,
by the way I'm putting myself at the top of this list of people that
you should be skeptical about.
Just because somebody's got a microphone or a camera
maybe that means they're good enough to have a microphone and a camera
and actually have an audience that will listen to them,
but they're not so good that they know stuff that you don't know.
I'll say it again,
they're not so good that they know stuff that you don't know or
that you can't know with just a little bit of thinking.
And so I'm challenging you
to start thinking for yourself,
listen to what people are saying, read what people are writing,
but then put it in your own
mill, put it in your own grinder, put it in your own bag and shake it up, because
you are the one that knows, more
than anybody else,
about your finances;
because if you start making trades based solely
on what Dan Fitzpatrick says
or what anybody else says,
then let's face it, it's really not your trade anyway, it's just mine,
and unless you have my cell number and are inclined to call me up and of
course I'm inclined to answer and tell you exactly when to get out of that
you're not a trader
you're just somebody who's working on a tip.
So don't do that,
take advantage of all the resources that you have and then ultimately make your
own decision.
Now, with that said,
take what I have to say with a grain of salt, make your own decisions,
but I don't think Apple's ( $AAPL Apple Inc ) done going down.
I didn't think it was done going down before earnings, I just didn't know,
because it could've screamed up to $600.00 or higher on a great number or
it could have been pounded to
on bad numbers.
But the path of least resistance is down, I don't have to, especially if you remember,
you've been hearing me talk about this forever,
I don't have to point out
this head and shoulder pattern to you
with the neckline,
that's obvious, very obvious frankly, anybody who's a technical trader
should look at a chart like this and go, Oh! Head and shoulders.
Okay, and I'm not talking shampoo,
so you take this distance here
between $500.00 and wherever the heck this thing was, I think $710.00 or
and then you subtract it
from the neckline break which is $500.00,
you have what's called a measured move.
Well, that right now, that measured move is right around three, I think like
$310.00, $320.00, something like that,
it's right back to here.
And so
I think frankly Apple ( $AAPL Apple inc ) could fall that low, I'm certainly not predicting
it, and even if it does it's not going to fall in a straight line, it's an
awesome company,
it's just that their growth rate is slowing, they're still growing,
but not as fast as they were.
So this
company has
some fundamental issues that impact how much somebody would pay
for the company;
they used to be paying a lot for growth,
now, not so much.
Now I think this dividend is actually going to become pretty important.
percent now is not that much, it doesn't get your attention when the
stocks down ten,
but at some point
the stocks going to get down to where money managers are looking at
this and saying, "Hey!" "You know it's still Apple ( $AAPL Apple Inc ), it's a great tech
company, Absolutely!"
"I want to own it and a little dividend, you know that's pretty cool to." So you
will see some buyers coming in here,
but don't get sucked into this,
like somebody's pounding the table saying how Apple's ( $AAPL Apple Inc ) really cheap
right now, fine,
before you go hit the buy button see if anybody else is, see if the stocks
actually moving higher,
because if it's not moving higher then obviously the market does not agree
with the guy who's saying it's on a fundamental basis, this is a really cheap
On a fundamental basis, frankly, Apple ( $AAPL Apple Inc ) was really cheap here and it was cheap here
and hear and here,
certainly hear and here, all the way down.
It's been cheap, cheap, cheap, so do you think Apple's ( $AAPL Apple Inc ) cheap here?
Heck yeah! It's really cheap.
So cheap doesn't cut it, it's got to be more than cheap, and what I'm saying is
it's got to have some accumulation of buyers. The stock has just got to be done
going down,
and that's going to require, in my view,
more liquidation, because there's a lot of folks, a lot of investors
who are long Apple ( $AAPL Apple Inc ). You know what?
I'm even long Apple ( $AAPL Apple Inc ) in a long term investment account that I have, go figure,
I'm pounding the table for 200 points
saying how you've got to get out of Apple ( $AAPL Apple Inc )
but I got it in one of my long-term accounts; that's where diversification
works for you. So the bottom line is this,
just don't be rushing out to buy Apple ( $AAPL Apple Inc ), it's just another stock now. Remember
Dell, remember Microsoft,
remember Cisco, remember Hewlett Packard back in the late nineties, early two
Those all had a pretty nasty fall from grace, Intel,
same thing.
So Apple ( $AAPL Apple Inc ) does indeed have a way to go on the downside,
so don't be standing in front of this falling knife trying to
catch it, just let it do what it's going to do.
With the abundance of things that are going up,
do you really need to be fixated on Apple ( $AAPL Apple Inc ) at all?
Because I can tell you unless something really weird happens,
you're not going to hear me talking about it out in front of the curtain,
meaning in these Free Chart Videos, I may be chatting about it
in Strategy Sessions and Weekend Updates for members,
but even then, memo to you members,
this is not going to be a focal point
of my analysis, it's like I really don't care about this,
I was hoping that it would bounce because I could short it,
and frankly
because I've been talking about, to quote myself, "Shorting the
snot out of Apple ( $AAPL Apple Inc ) if it breaks down below $500.00,"
I think I've got to go ahead and short this stock just to prove
myself not being a liar. So
that's all I got,
stay away from this thing, that's all. Okay members, over to the Strategy
Session; sorry we're out a little bit later than usual but that's the weird
thing about life, it happens.