Posterous theme by Cory Watilo

$$ Steve Jobs is out awhile. How I'm playing $AAPL

Well, today Apple announced Steve Jobs is taking a medical leave, so of course idiots are going to sell off tomorrow in droves. Of course, this is stupid because a) Apple has plans in place for at least a few years into the future b) Tim Cook is a great leader and Apple will do just fine wig him there c) Steve Jobs is a FaceTime call away for any major decisions d) there is no company on the planet doing better than Apple.

So, the timing of the news. It was perfect. Make it Te talk of the town when the market is closed. Get rid of the gut reactions. Tomorrow is the earnings call and I guarantee it will be through the roof.

IPad 2 is coming, Verizon is coming, iPhone 5 is coming, the App stores are firing on all cylinders. Apple will only become more profitable this year.

So how do we play it? I will be putting a stop loss down where I'm not longer willing to wait out a drop. I'm willing to bet there is a drop to sit through, but at $310-$320 I may as well get cash to buy more shares on that kind of dip. It will fly back up after the initial dip though. Its a $400-500 stock.

If you don't remain longterm bullish on Apple, you're nuts. Use the dip to gain shares.

Invest in peace...