Don’t get me wrong, I love Netflix, and watch it almost every day. It’s a great service, with the potential to disrupt the cable industry. Also Carl Ichan has made a fortune off of it, and Carl likes Apple, so…
And of course you know I love Apple, in fact I’ll be ordering my new iPad mini the minute it is available. My feeling is that what Tim Cook and company will introduce today will be a true game changer in gaming, and in several other industries. But the hedge fund managers won’t care, and the analysts are still miffed that Apple didn’t die like they predicted.
The point I want to make is that the total craziness of this market is simply overwhelming, fever pitch, so under contrarian principles it must go down. And all it needs is the slightest catalyst, like hedge fund indifference to the new Apple offerings, especially after Apple was up big yesterday.
I really hope that I am wrong. At least about Apple, that is. But I do believe there will be a catalyst for the market to drop, and soon. Apple just makes a convenient scape goat.
If you are initiating a long position here, all I can say is, good luck to you.
