[quote author=“enature”]
Gee.. 2% and 1.3% down when AAPL is 7% down. You guys are perfectly hedged, or we trade in different worlds. My account was up 1.5% and I consider that just a noise.
When AT&T came out with 146K activations, my account poorly hedged just for a couple of days, so over 20% decline from its max. That was unacceptable. The reverse side of this is that it doubled a few days prior to that. I guess heavy call positions made me used to wild swings. But in any case, 2% decline in such an awful day is an excellent outcome by all measures. Congrats!
Well I said 2% in my active trading account. I have an IRA that is heavy long AAPL (mostly leap calls) and that is down about 10% On the other hand it is still up 50% or so this year - so how can I complain? The ups and down of trading and investing in AAPL .
My main retirement money is 401Ks in assorted mutual funds that are surely mostly down big today.
BTW nice pop after hours. Must be the Aug 7th announcment (my Birthday present?)
The index futures continue to drift down AH though . Maybe a nice short-covering AAPL rally tomorrow can save the markets from themselves…...
[quote author=“superbaka”][quote author=“dmcnair”]I wouldn’t argue that the now infamous memo didn’t have something to do with the AAPL sell-off. However, one thing y’all seem to be overlooking is that the NAS was down 2.2% today and the S&P 1.3%. Yes, AAPL was a major chunk of that, but not all of it. The continued sell-off in the broader market is more unnerving for many of us than the sharp drop in AAPL prices, I’m sure.
Hm why exactly is the drop in the nasdaq unnerving? I was unnerved when it was blasting into the stratosphere for no reason the last few weeks, breaking the multi-year uptrend channel. Now I feel more comfortable.
Point taken. I’d feel the same way if I’d started scaling out of all my longs two weeks ago as I expect you did.
Since I’m new to this game and depend on my trading account for all my income, I tend to be too focused sometimes on capital preservation and not on upcoming opportunities. Based on my experience over the past three weeks, I have come up with a new trading rule, however. It goes like this:
“When you hear yourself say ‘knock on wood’ three or more times in a week, it’s time to sell.”
[quote author=“Marrakech”]Anybody knows why GS is down $7.40 and an additional $1.34 AH could it be the bogus story that turned around and bite them in the ass?
No ... it probably has more to do with the subprime mess and the fact that we’ll all be broke and begging for a loan any minute now ...... basically overreaction at this point but people are scared .... and anything with exposure to the credit market will be affected.
I was long GS .... thank goodness I bailed around $200 .... it looks kind of attractive at this point but risky ......
This is big, I didn’t believe there will be an event (there wasn’t summer holiday event in many years). When there is I actually believe there will be new iPods as well. In fact it would be a smart move to introduce new consumer line month ahead. iPods will sell in Christmas Q no matter how old they are and they would catch more back to school and late summer sales this way. If the world doesn’t end tomorrow Apple will bounce nicely just after touching the bottom of the channel. May be I’m dreaming a bit here but that would be very sweet.
This is big, I didn’t believe there will be an event (there wasn’t summer holiday event in many years). When there is I actually believe there will be new iPods as well. In fact it would be a smart move to introduce new consumer line month ahead. iPods will sell in Christmas Q no matter how old they are and they would catch more back to school and late summer sales this way. If the world doesn’t end tomorrow Apple will bounce nicely just after touching the bottom of the channel. May be I’m dreaming a bit here but that would be very sweet.
Tommo_UK gets the jump again being first with the info, beating MacRumors/MDN. Thank you for keeping us on the leading edge.
And yes, this could be huge. Most likely iMacs, Mac Minis. Probably new iPods. Possibly iLife/iWorks: but these might wait for Oct.
[quote author=“mtdoc”][quote author=“capablanca”] How are you shorting the indices? Do you use the futures, ETFs, or options?
I’m actively shorting/trading the Nasdaq 100 and S and P 500 emini futures.
I have some SMH (semiconductor index ETF) puts. I also have a short Aug NDX asymmetric Iron Condor in place - short 1925 put/long 1900 put, Short 2025 call/long 2075 call which is doing great with this drop.
My relatively large AMZN short option position - which had taken a big hit after earnings - is also helping a lot - glad I didn’t give up on it.
[quote author=“Play Ultimate”][quote author=“pethr”][quote author=“Tommo_UK”]Mike Gartenberg of Jupiter Research confirms there will be an Apple Event next Tuesday 7th August
This is big, I didn’t believe there will be an event (there wasn’t summer holiday event in many years). When there is I actually believe there will be new iPods as well. In fact it would be a smart move to introduce new consumer line month ahead. iPods will sell in Christmas Q no matter how old they are and they would catch more back to school and late summer sales this way. If the world doesn’t end tomorrow Apple will bounce nicely just after touching the bottom of the channel. May be I’m dreaming a bit here but that would be very sweet.
Tommo_UK gets the jump again being first with the info, beating MacRumors/MDN. Thank you for keeping us on the leading edge.
And yes, this could be huge. Most likely iMacs, Mac Minis. Probably new iPods. Possibly iLife/iWorks: but these might wait for Oct.
AppleInsider confirms the event, claims it will be only Mac related, and sitting will be very limited (no email card invites like in the past, only via phone).
[quote author=“enature”]AppleInsider confirms the event, claims it will be only Mac related, and sitting will be very limited (no email card invites like in the past, only via phone).
OK, so iMacs only. I got excited too much too soon. But it’s strange, it isn’t very likely there will be another event in September which leaves us with some uncertainty about iPod refresh. Limited audience for iMacs? Sure, nobody will get it either way but why limit the audience if they are to introduce new iPod line?
Perhaps yesterday is about hedge funds borrowing at one interest rate, and buying riskier tranches of mortgage debt to deliver “free income” on the interest rate difference - while the banks offer the cheap money. Apparently funds report to the lenders their overall position each month-end as part of the terms of the facility, and those terms are tightening on account of the sub-prime situation. Reduced liquidity means sell off any and all positions for month end because less borrowing is available next month. Large cap stocks are probably more liquid than sub-prime debt, so they get hit.
Or have I got it wrong? And why didn’t someone hand out this idea before, instead of after yesterday?
We noticed you may be running AdBlock on your computer. It takes real money to run this site and to deliver the news, tips, and opinions you love to read.
If you wish to block the ads that pay for the creation of our content, we ask that you instead support TMO Directly, either with a $5 monthly recurring contribution, or a one-time donation of any amount of your choice. Thanks!
Loading...
On the other hand it is still up 50% or so this year - so how can I complain? The ups and down of trading and investing in AAPL 
.
But it’s strange, it isn’t very likely there will be another event in September which leaves us with some uncertainty about iPod refresh. Limited audience for iMacs? Sure, nobody will get it either way but why limit the audience if they are to introduce new iPod line?
NewEgg: $8 off on ZyXEL ES105S 5-Port 10/100 Desktop Fast Ethernet Switch for $11.99 plus Free Shipp
Back in stock: Mac mini 2.3GHz dual-core Intel Core i5: $519.00 Delivered
