My portfolio

[tombrown1]

If it does rally above $200 on some good volume I might get back in. It's been sideways for about 3 weeks now, and I think I'll wait for a good breakout.

[KatonahMike]

Originally Posted by tombrown1

If it does rally above $200 on some good volume I might get back in. It's been sideways for about 3 weeks now, and I think I'll wait for a good breakout.

Smart thinking. I've been fretting this week, watching my initial investment (AAPL in at 187) drop by over 10% at one point. If I lived by the IBD rules, I would have dumped it at 8% down. I feel like I've been too quick to jump recently. Apple has great prospects, and reason tells me to hang on to this position.

Any thoughts?

[tombrown1]

What reason tells you to hold on? Reason has told a lot of people to hold on to "safe" investments in the past only to see it plummet. I have no idea if Apple will plummet. All I know is that I don't want to get into an investment unless it is showing some strength. O'Neill makes it very clear that you should only pick winners and dump stocks that aren't making you any money.

[KatonahMike]

Originally Posted by tombrown1

What reason tells you to hold on?

My reasoning is that Apple has been proving itself a winner for some time now. They came out of nowhere to become the largest retailer of music in the country, are the market leader in MP3 players, are showing burgeoning growth in PC sales and now are releasing the next generation of a very popular product, this time with global potential.

They are profitable, have no debt, and continue to demonstrate impressive growth for a company of their size.

Mike