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Some names are looking interesting here with their recent consolidation…

NVDA – has gotten pretty consolidated, but may decline further. NVDA enters asset value play upon the 6.80 area.

ERII – Like NVDA, ERII is consolidated and approaching a trend line support.  Around 6.85 seems like a good initial entry.

POT – Consolidated and breached its SMA resistance. Most likely forming a bottom here. May see a move to 80 or so before becoming overbought.

I really really hate the rating agencies. What is the point of their existence? Seriously.  Is it because ‘wannabe’ investors are so f-n stupid that they need to depend on others doing their homework for them? Has the last 8years not taught us to ignore their analysis? (I’m not smart enough to understand why they are needed)

Anyway… S&P stated that there is a ‘chance’ that GE could loose its AAA status. The basis of this was if GE could not execute on its GE Capital division restructing. 

This to me is so laughable. ’No Shit’… as if we needing a rating agency to tell us this one.  Yet again, when they are not being bought off by companies, they simply point out the obvious.  But since their statements hold sway within the ‘wannabe’ investor crowd (which is a big crowd of tools), their words move markets.

Lets downgrade everything on ‘chance’… not actual events or evidence of a trend suggesting an event to take place.

A lot of bullshit swirling around Jobs, and pulling out of the Mac expo.  I call it bullshit because, lets face it… its ultimately irrelavent.

Apple (the company) does not equal Jobs. Jobs played a key role in creating Apple’s culture of innovation and ease of use, along with artistically functional technololgy.

Apple is not one man.  It is a company that dominates across product lines via the company culture he gave birth to.  To assume this culture will simply go away is foolish.

The business of Apple is to continuously push the test on innovation.  Create new products, then drive continuous cycle improvements from these innovative product lines.  Also, to maintain a brand/product loyalty, along with a nice cash flow, they maintain a product dependent ecosystem.

Apple’s strategy was/is brilliant, and is structured for continuity.  The best example I can think of is Wal-Mart, and the culture Sam Walton created still being pushed to this day.

Apple has about $30/share in cash… cash.  A disgustingly awesome cash-flow. And if 2009 eps of 6 is assumed via an $89 stock price, it has a PE of 14. A PE of 14 for the… THE… most innovative company on the planet, and certainly for the past 8 years.

Considering I am a realist, I understand the stock will move based on one man, but to ignore his legacy, his child’s ability to flurish on its own, is simply stupid.

Every analyst that downgraded the stock this past week, downgraded on the premise of Jobs’ health, not on the fundamentals of the company.

How low can AAPL go? The charts suggest we are at a support, but with a new ‘precieved’ negative catalyst, 55-60 may be possible.

For the record, if 55-60 is seen, the market will be treating AAPL with gross inefficiency.  Apple as it stands, is a very very inexpensive stock.