Most everything else is noise until Apple reports. And, even after we get holiday quarter results, there's no telling what the stock will do. I realize that's unsettling, but, at the end of the day, if you're in the stock, all you can reasonably do is what's best for you and your family. Hopefully, putting it that way brings some clarity to thought.

Don't panic. You have no control over what's happening out there. It's the Wild West. You have to make decisions based on your circumstances, but, if it was me making the call, I would day/swing trade AAPL using tight stops (like I did in October 2012), but not hold a substantial position as an investment.

Let the dust settle after earnings and go from there. If hell stops breaking loose, think about getting back in. You'll have time; when this train really takes off, it makes several stops along the way to pick up new shareholders or investors scaling into a position. And if it doesn't, no harm and no foul.

Other very good, less volatile long-term investments exist. (Look at big media stocks; for example, News Corp ( NWSA) is up 12% since this Nov. 5 article).

Just don't sit around waiting for Apple to bail you out of your perceived jam. It's not going to happen. And, if you love the company, but keep your feelings about the stock in check, you should be happy about that. It shows Tim Cook has not lost all of the Steve Jobs mojo.

Cook doesn't manage to the stock price any more than Jobs did. Sure, he issued a dividend. I don't agree with the move, but it wasn't like the guy threw a pool party for rank-and-file shareholders.

If I know anything about how a heavy-hitter CEO's mind works, I know Tim Cook believes if he stays the course, his AAPL shares, which vest in four and nine years, will be worth more if he doesn't panic in the face of today's external, media- and rumor-driven hysteria.

--Written by Rocco Pendola in Santa Monica, Calif.
Rocco Pendola is TheStreet's Director of Social Media. Pendola's daily contributions to TheStreet frequently appear on CNBC and at various top online properties, such as Forbes.

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