Doug Kass of Seabreeze Partners Management this morning advised investors that he has taken up a “small short position” in Apple (AAPL) stock given that it is “trading at an historic premium to any of its moving averages.”
With Apple shares up 14 cents at $542.58 this morning, the stock is above the 30-day average of $477.48, the 50-day average of $450, and the 100-day average of $420.72.
Kass a short while later tweeted he was shorting more of the PowerShares QQQ Trust as Apple seemed to display weakness after the Institute for Supply Chain Managementpublished its “Report on Business” for the Month of February, showing a reading of 52.4 versus economists’ expectation for a 54.6 reading.
Kass, I would note, was on CNBC last night with more of his short-sale throughs in general.
Update: Apple shares closed the day up $2.03, or 0.4%, at $544.47.
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