The rise is market wide… Not apple specific… But up is up

AAPL’s chart pattern early yesterday AM was identical to both CROX and MCD, which matched the broader market. Damn, I hate index funds and ETFs because the individual stock no longer matters. 

Non-farm productivity better than expected. Labour costs fell rather than rose.

WTF is not to like here? So much for the recession. Higher productivity, lower inflationary pressures = wide open door to a rate cut.

Bill Gross can’t resist trying to depress people:

08:49 EDT   Pimco’s Bill Gross says “we are witnessing” breakdown of modern day banking system

Gross said: “What we are witnessing is essentially the breakdown of our modern day banking system, a complex of levered lending so hard to understand that Fed Chairman Ben Bernanke required a face-to-face refresher course from hedge fund managers in mid-August.”

Gross says to restate “near recessionary economy” Fed may need to cut rates to 3%

Gross says home prices may fall another 10% over the next several years

What next, Greenspan out with a comment that he sees a 33.33333333335% chance of a recession, and then some Fed motor-mouth warbling about something or other? Sigh.

The relative silence on the intraday thread from the majority of AFB’s active traders speaks volumes to me about how much cash is sat on the sidelines still undecided as to whether to commit or not. Very interesting.

AAPl at 183.32 in the PM.

Note: Upper Bollinger on the daily is around $187.

[quote author=“Tommo_UK”]The relative silence on the intraday thread from the majority of AFB’s active traders speaks volumes to me about how much cash is sat on the sidelines still undecided as to whether to commit or not. Very interesting.

LOL that’s a new indicator, I haven’t realised yet

Apple-AAPL European iPhone momentum better than expected-Outperform@RBCM
RBC Capital said checks indicate solid European iPhone momentum, contrary to concerns regarding a soft launch. The firm has raised FY08 iPhone sales outlook to 12.5M from 12.1M. Target $205.

[quote author=“Tommo_UK”]Bill Gross can’t resist trying to depress people:

08:49 EDT   Pimco’s Bill Gross says “we are witnessing” breakdown of modern day banking system

Gross said: “What we are witnessing is essentially the breakdown of our modern day banking system, a complex of levered lending so hard to understand that Fed Chairman Ben Bernanke required a face-to-face refresher course from hedge fund managers in mid-August.”

Gross says to restate “near recessionary economy” Fed may need to cut rates to 3%

Gross says home prices may fall another 10% over the next several years

What next, Greenspan out with a comment that he sees a 33.33333333335% chance of a recession, and then some Fed motor-mouth warbling about something or other? Sigh.

It actually worked - Bloomberg radio reported this morning that 56% of Americans believe that we are heading into a recession within the next 12 months (and w/o sounding arrogant, but I am sure most of the   interviewed people didn’t even know what exactly defines a recession). 

Most of the interviewed mentioned concerns about subprime crisis and rising oil prices. People watch too much CNBC! 

[quote author=“lumi”]

Apple-AAPL European iPhone momentum better than expected-Outperform@RBCM
RBC Capital said checks indicate solid European iPhone momentum, contrary to concerns regarding a soft launch. The firm has raised FY08 iPhone sales outlook to 12.5M from 12.1M. Target $205.

I haven’t seen that! Kudos for catching it… you have a link?

[quote author=“Tommo_UK”][quote author=“lumi”]

Apple-AAPL European iPhone momentum better than expected-Outperform@RBCM
RBC Capital said checks indicate solid European iPhone momentum, contrary to concerns regarding a soft launch. The firm has raised FY08 iPhone sales outlook to 12.5M from 12.1M. Target $205.

I haven’t seen that! Kudos for catching it… you have a link?

No link, via fly on the wall at 9:15 EST

[quote author=“lumi”]No link, via fly on the wall at 9:15 EST

Oh yes I see it now - dunno how I missed it!  :o

Still trying to find the article, but Techcrunch reporting that Google is launching a new interface for the iphone (via TFOTW)....

Just bought another 100 shares at 182.75….

[quote author=“lumi”][quote author=“Tommo_UK”][quote author=“lumi”]

Apple-AAPL European iPhone momentum better than expected-Outperform@RBCM
RBC Capital said checks indicate solid European iPhone momentum, contrary to concerns regarding a soft launch. The firm has raised FY08 iPhone sales outlook to 12.5M from 12.1M. Target $205.

I haven’t seen that! Kudos for catching it… you have a link?

No link, via fly on the wall at 9:15 EST

Dec. options behaving crappy - don’t like the action.

[quote author=“Plato”]Dec. options behaving crappy - don’t like the action.

Agreed.. shows deep seated scepticism and lack of belief. If the stock gets over $187 they’ll explode though.

Meanwhile:

ECONX : ISM Services 54.1 vs 55.0 consensus
ECONX: Factory Orders +0.5% vs 0.0% consensus

[quote author=“Tommo_UK”]
Agreed.. shows deep seated scepticism and lack of belief. If the stock gets over $187 they’ll explode though.

187 would be great, though I don’t think we get there today (hope I am wrong). And if we do - we would hit the upper BB and that would be a point for shorts to jump in. Just my 2 cents.

I just sold my Dec 180 calls at 8.5 .

Now I am actually shorted them - they lost some of today’s gain even when the stock went further up.