As the day wears on, stocks are acting tired, and the trading action is slowing down. I'm tired, too, but I won't let that slow me down. Of course, my action isn't dictated by millions of traders around the world.
Apple (AAPL - commentary - Cramer's Take) has been trading poorly lately, and as usual, my inbox is starting to fill up with "What's going on with Apple?" emails.
I think there's been too much hype around the coming iPhone, which probably isn't coming as quickly as people hope and expect. Macworld -- one of seemingly countless events that Apple puts on to hype its products -- is happening in January, and many are long Apple for a trade into that. There had better be some good products rolling out, not just some "coming soon" promises, if this stock is going to follow through on that.
I sold a little bit of my Apple holding a few weeks ago, but I'm not looking to buy back this overloved stock just yet. In fact, I was just telling my superstar associate, Jonathan Kovis, that I think Apple might see the $70s before it sees the $90s. I'll stick with my long-held long positioning in the name, but I'd rather be a buyer of, say, Google (GOOG - commentary - Cramer's Take) here than Apple.
At the time of publication, the firm in which Willard is a partner was net long Apple and Google, although positions can change at any time and without notice.
P.S. Will you be there when Cramer makes his next move?
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Cody Willard is the manager of CL Willard Capital Management, LLC. He is a regular guest on Fox News, CNBC and other networks, and he writes a monthly column for the Financial Times. He is also an adjunct professor at Seton Hall University and the author of TheCodyReport.net, a monthly stock market newsletter. Willard appreciates your feedback -- click here to send him an email.
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