You Can Pick Up the Mo-Mo Names Lower

Come on, already. Of course Apple's (AAPL - commentary - Trade Now) going down. The reigning king of momentum investing should be going down. That's because on Monday and Tuesday we saw lots of late money coming into Apple on the product introductions -- which were actually significant because they were more enterprise- or corporate-oriented -- and Chinese iPhone sightings. We knew that money couldn't make money. We knew those people would be picked off by the sharpies, which is the main reason I was endlessly telling people to take profits in this stock into the hoopla. You can buy it back at $130 next week, where I think it could touch because of options expiration pressure. (You should still have a half position on in the name, and don't buy the rest back unless it ticks there.)

Research In Motion (RIMM - commentary - Trade Now) reports next week, and it has run so much ahead of the quarter that I keep thinking about Top Gun Trader Rick Bensignor's call to take off half. You can revisit that one lower, too.

Amazon (AMZN - commentary - Trade Now)? Another stock that could be pinned at the lower strike next week. Next opportunity: $80.

Put it this way: There's no reason to reach yet on momentum. They are recharging. You could get ample opportunity to buy these next week.

The only fear I have here on these stocks is one of greed -- what happens if on Mutual Fund Monday the money flows right into these old names?

Well then, we miss 'em!

Random musings: Dion's piece on Latvia is brilliant. I didn't know any of this stuff. He is a total must-read.

At the time of publication, Cramer had no positions in the stocks mentioned.

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