Don’t blindly follow Warren Buffett into Apple stock

Not only has Warren Buffett bought more Apple stock, he has been promoting the purchase with full force. Apple’s stock, as a result, has jumped.

The day before the news of Buffett’s Berkshire Hathaway BRK.B, +1.30% buying more Apple AAPL, +0.06% stock broke (May 4), I wrote a column titled “There’s evidence that Apple’s stock could finally break out.”

No, Buffett did not call me before he unveiled the news. It is simply that I have been reading charts for over 30 years and can understand stock patterns. Furthermore, algorithms at The Arora Report showed several times during the first quarter that the smart money (professional investors) was buying Apple.

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