Apple's Move From $78 to $202 Shows Importance of Closing Ears and Opening Eyes

I've long since forgiven myself for unloading my Apple stock in the summer of 1997. I think I sold it at the day when it hit its all-time low. I know that the company was losing market share to Dell and Microsoft, and was selling a unique product, but only into a few school systems around the country. Steve Jobs had left the company and had given up. The company had about $4 in cash and when it hit $10, it still seemed poised to go to its liquidation value.

I no longer think of how rich I would be if I were to have held it for these last 12 years. I've forgiven myself.

Where I cannot forgive myself is for what I did earlier this year when I sold at $100. The move from $78 to $100 was blistering, and the economy was in shambles. Everybody was talking about a relief rally in a bear market. There was no shortage of talking heads speaking about a $50 price target. I at the very least thought that I could buy it back at $85.

Apple has been a phenomenonal company for many years. I knew that. I also knew that the IPhone was taking over the world, and knew that their computers are finally gaining widespead acceptance. I could go by any store and you would see that Apple was unaffected by the recession.

Yet, I continued making excuses for why the next pullback would come and raising the point at which I would be prepared to buy. I held off buying before earnings, believing that they might disappoint and that would give me an entry point much lower.

With Apple over $200, I am done with the excuses. I know it is going higher. I'll probably just jump in and buy over the next several days.

I just wish I had used my eyes and my brain, and closed my ears.