Sosnoff Says...
Monday, December 16, 2019
A few months ago my iPad mini had an unfortunate accident. It may have been in my back pocket and someone may have sat on it. The investigation is still ongoing. The screen broke (a little) and the iPad bent (a little). But because I will never contribute to the biggest scam known to mankind called Apple Care, it’s my problem. Hey, I’m a premium seller not a buyer! So on Saturday it was time to trade in the old and buy a new iPad mini. The day started out right. Maybe it was a Christmas miracle but I found parking right outside the Apple store. When I got inside there were at least two, red-shirted Apple employees to every customer. The perfect storm. Seven minutes and $500 later, I was in possession of my new iPad. BTW, that included the generous 4% tastytrade corporate discount. Apple offered me zero for my old iPad but said they would properly dispose of it for no charge as a courtesy. So, with 80 minutes left on my original 90 minute parking meter, the entire experience was almost too good to be true. But wait, it’s never as simple as it seems. After Apple got my money the games began. The data transfer of everything from the old to the new, including backups and new software updates, took a little over 2 hours. And the white glove, in-person assistance was a little less than willing to assist. Tack on another 90 minutes in the AT&T store to transfer my cell service, and this hangry, impatient trader wasn’t having fun. Throw in an additional $60 parking ticket and all I could think of was “how is AAPL a trillion dollar plus company?” Still, determined to make this a winning trade, I promised to “short the stock on Monday” But then I remembered, I’m already short this stock from $245 and that’s not going too well. So, today, being the tough guy that I am, I’ll be shorting the stock with the Bat’s money!!
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