AAPL: Why $600 Will Soon Be In Apple's Rearview Mirror

I am one of the unfortunate souls who sold his shares in Apple (AAPL) back in the summer of 2011 for $383 and change. I kicked myself as I watched in blow through $400, then take out $500. Surely I thought that was the top. Nope, quickly we reached $600 and finally topped $700. I figured, well I had a nice gain, but I missed another 50% to 75%. When the major selloff from its highs of over $700 began I started to get intrigued about the possibility of getting back in. I chose to get back in at $600 on the button, with the idea that I would pyramid down into the shares if it further declined, and if not I would be happy with capital gains as well as a cushy little dividend. To my surprise it didn't take long to breach $550 when I added again, and once more at $475. I thought there was no way it could go lower, and I wasn't prepared to add another layer to my pyramid buys. After all, shares are pretty expensive on an absolute dollar basis. Shocked I watched it fall to the $400 level. I decided I would add one more layer if it breached $390. And it did. How ironic is it that I completed a new position at levels that were just a few bucks, or 2% above where I first bailed out. Why do I share this story? Because I still believe that AAPL is one of the great growth stocks of our time and I do not think the run is over. As my cost basis is now $444, I have missed out on about $60 in capital gains overall, as well as a few dividends (not considering if I held shares and rode them to $600-$700 range). But I didn't miss out, because the gains I had from my original AAPL sale were put to good use, allowing me to diversify my portfolio and scoop up some winners. This is important, because so many I speak to feel like "I missed the move." I am writing this article because I firmly believe..............READ MORE