Friday was a decidedly down day for AAPL. What will the early Monday morning trading bring for the iPhone maker’s share price?

Edited to archive.

I guess the election’s hyping up everyone, including us. HSI is up 5%+ now

EDIT: Oh, and, to put things in perspective, we are over 38% UP from the low we saw last Monday, just 5 trading days ago

US futures are up as well. Election uncertainty may cloudy the pre-market movements, but I think high volume at the open should give a clear signal of direction.

Futures have turned red and it looks like AAPL will be testing support at 104.89 soon after the market opens. 105.48 as I type with a half hour to go before market opens. I’m not sure why AAPl is selling off, but suspect that some traders are wanting to keep profits and wait till Wednesday for a clear signal of directionality.

EDIT: we just bounced off of 104.85

Interesting comment from Art just now about a “trading cycle blip” that occurs annualy aroung Nov. 4-5th. Maybe aapl’s downturn on Friday was aapl moving ahead of the market (once again) by a couple of days. Really though, probably just sold off since it was running up so much last week.

Looks like the short brigade formed here on Friday could have held through the weekend. I’m sure we all had much more Halloween fun though because we didn’t.

Though I covered my aapl short on Friday, I left on a long position of SDS (inverse S&P ETF) just in case things went down today, being the first trading day of the month and all.

If that SDS goes up today & tomorrow (because S&P goes down and AAPL’s a part of that), I’ll be selling it off gradually to buy aapl. Looking for aapl to test and hold 20-day SMA on a 1-month daily chart ($98.XX). Of course it could hold above that but already below Friday’s LOD in PM. Anyhooo, that’s the plan for me today/tomorrow FWIW.  Besides voting.

Let’s not panic, this is probably a great chance to get in on aapl for a nice Christmas run.

OT: CC closing 155 stores and cutting 17% of it’s workforce amid tightening credit requirements from it’s vendors. Stores that don’t open on Nov. 4 will reopen to clear inventory on Nov. 5. Who’s gonna be left to compete with BBY?

Just be careful, there were two false ticks in the pre-market near 107.60. So while bullish to get here from 105, that may have been a planned upside test before tanking.

And what is with that bogus story of a 40% production cut for the iPhone?

No Apple showrooms within CC.  So more customers sent to BBY that DO. 

Edit:  Apple product yes.  Apple showroom no.

[quote author=“Rawkstar9”]Just be careful, there were two false ticks in the pre-market near 107.60. So while bullish to get here from 105, that may have been a planned upside test before tanking.

And what is with that bogus story of a 40% production cut for the iPhone?

I agree - seems short term aapl setting up for a mild pullback which could actually be a positive for a multi week advance.  Notice the markets shaking off bad news though - ISM pretty horrific data and markets are not selling off.

Store list can be found Here .

Seems strange - they opened a store in North Naples about 8 weeks ago - this is OFF season - and decide to close it just as the Snowbirds arrive. Hmmm.

[quote author=“Rawkstar9”]

And what is with that bogus story of a 40% production cut for the iPhone?

Never heard such a story, where did you get it?

[quote author=“rattyuk”]Seems strange - they opened a store in North Naples about 8 weeks ago - this is OFF season - and decide to close it just as the Snowbirds arrive. Hmmm.

I’ll bet a bankruptcy attorney could explain this move.

[quote author=“Hamourabi”][quote author=“Rawkstar9”]

And what is with that bogus story of a 40% production cut for the iPhone?

Never heard such a story, where did you get it?

Reported on CNBC about 3 times now. FBR reported that iPhone production will be cut by as much as 40% in 1st Q’09

Question to confirm I understand what I’m looking at…

Upper Bollingerband on intraday chart being tested, about 108.65?

Sam’s Club is killing BBY profits in the big TV space.

Nevertheless, I think I’ll have to go price out CC for three 22” TVs in the hopes of displaying all three business networks at once (CNBC, Bloomberg and FBN).

I am not sure what to make of this. AAPL is getting bad news regarding iPhone production, and we go up, up and up - more than $4 from the LOD within 40 minutes.

The economic numbers are horrible (ISM 38) and the market shrugs it off!

Very weird.