I'm long AAPL. I expect it to recover by the holiday quarter earnings report in January, if not sooner. BUT I could be wrong.
That second excerpt likely has already started playing itself out for investors who got into AAPL late. That dig your heels in emotion can work wonders on your mind with every drop.
As TheStreet and CNBC's Jim Cramer noted in a Real Money column from Thursday:
If you are wearing a $50 shirt -- meaning your Apple cost basis, or where you bought the stock, is about $50, where I first started recommending it -- you are wearing a shirt that won't be lost for another 500 points. But you are being greedy as all get-out if you don't take off something -- at least your cost basis, if not more.
Frankly, you're nuts if you don't heed that advice.At the time of publication, Rocco Pendola was long AAPL.