I may be sticking my neck out but I believe today will be the start of a strong move up. Level 2 looks good. The market makers tested down to 355p, but they'll try to move it back to 400p on the offer over the next few days. But if good rig news comes in over the next week then of course it's a different game. Xcite boredom may be over!
Post post note 10.30am:
Doh! Reminder to myself, don't try and become a crystal ball gazer. Focus on fundamentals and the share price will take care of itself! Feels like pre flow test where nerve was tested on constant share price pressure. But as gramacho's analysis posted yesterday showed we have a North Sea field investment which is worth more than £3.50 a share. Who know if it's £6 or £10 but I will stake my reputation that its not £3. If it goes below £3 then Contrarian will close this blog up!
Wednesday, January 19, 2011
Apple really is an incredible money making machine
Apple (APPL) released its fourth quarter 2010 results last night. It generated revenues of $27 billion, with profits of $ 6billion. 7.3 million Ipads were sold during the quarter. Incredibly it now has cash of $60 billion, up $10 billion on the quarter (that's $64 a share). Even with Steve Jobs out of the day to day running of the company this is an incredible company. It was unbelievable that I picked up Apple not long after the Lehman Brothers collapse in September 2008 for not much more than $80 (today it stands at $344). Just underscores the theory of buying quality stocks when fear is maximum. With Iphone 5 and Ipad2 not far away the success will no doubt continue, but at $344 I won't be buying the stock no matter how much I love the company and its products.
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