Apple (AAPL) shares this morning have given up earlier gains and are currently down $8.40, or 1.5%, at $536.78, more than the percentage decline for the Nasdaq Composite Index, which is currently down 27.85, or 0.9%, at 2,948.34.
Still, the shares have rebounded from their low of the session of $526.
The only visibly negative element running against the stock this morning was the suggestion by BMO Capital’s Keith Bachman to the effect that Apple shares might “consolidate recent gains” following the expected announcement on Wednesday of a new iPad.
And so we turn now to Doug Kass of SeeBreaze Partners Management, who last thursday alerted folks he was taking a small short position in Apple shares.
Today, he writes that he covered that short position at $528 — right after writing “I remain short Apple” mere minutes before that.
Update: Apple shares closed down $12.02, or 2%, at $533.16.
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