He had just published a report on his Bullish Cross blog (reposted on Seeking Alpha) advising investors to buy Apple AAPL at $320. Although his three previous Apple buy signals had proved prescient, we took some pleasure in noting that the market didn’t seem to care.
We should have had more faith. As it happens, Apple hit bottom with that 3.1% drop Monday morning, the day after Zaky told readers to buy. After touching $310.50 in intraday trading — a seven-month low — it has been on a tear.
Apple closed Thursday at $357.20, up $37.20 (11.6%) from Zaky’s $320 in less than three weeks.
Zaky recently gave Bullish Cross a makeover and put it behind a $49.99 per month pay wall. His Apple report, published two days later, was a pretty good start. “I think the evidence is getting more compelling that we’ve bottomed,” he wrote in his June 21 market commentary, “[and] that we’re going to see a major rally in July.”