AAPL Intraday Updates (Archive)

  • Posted: 22 February 2009 06:45 PM

    It’s a new week.

    The nation has an exorbitantly expense stimulus plan signed into law.

    California has a “budget” contingent on tens of billions of dollars from above-referenced stimulus plan to buy time to make a real budget.

    Last week the DJIA fell to a six-year low.

    What’s in store for the markets this week as consumers vanish from retail stores and the economy sinks further into the dark abyss?

    [ Edited: 24 February 2009 08:10 PM by DawnTreader ]      
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    Posted: 22 February 2009 08:19 PM #1

    The stimulus and housing recovery plans certainly didn’t help matters last week. But, it was the fear and uncertainty surrounding the banks that drove the DOW to break the lows of 2002 on Friday. The Whitehouse coming out Friday afternoon and making a statement calming fears about nationalization brought the DOW back from the edge of disaster. The question is, will the market continue to buy shares of C and BAC tomorrow morning, or will they sell/sell short what they snapped up on Friday afternoon. AAPL held strong, sinking only to $89 at the lowest point of the day. But, if the financials go south again tomorrow, everything else slides with it. We are to hear more details of Geithner’s plan on Wed. - correct me if I’m wrong. I was hoping some other bank news or plan details might have come out this weekend, but no dice. So, I will be anxiously checking futures throughout the evening. Currently red.

         
  • Posted: 22 February 2009 08:32 PM #2

    kiwitrader - 23 February 2009 12:19 AM

    We are to hear more details of Geithner’s plan on Wed. - correct me if I’m wrong.

    Where did you see this?

         
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    Posted: 22 February 2009 08:57 PM #3

    alice - 23 February 2009 12:32 AM
    kiwitrader - 23 February 2009 12:19 AM

    We are to hear more details of Geithner’s plan on Wed. - correct me if I’m wrong.

    Where did you see this?

    Uh, could be the voices in my head that told me this.  :wink: That’s why I said “correct me if I’m wrong. In my search for the answer, I uncovered this article on Reuters. A blurb from it:

    But in coming days, the focus will remain squarely on Washington as Wall Street hope for details on a plan to bolster the financial sector, which suffered steep losses last week.

    Citing unnamed U.S. Treasury sources, CNBC said the administration will release some details this week on its bank rescue plan. A Treasury spokesman told Reuters he could not immediately comment on the report.

         
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    Posted: 22 February 2009 11:17 PM #4

    10:15 PM and SP futures up over 9 points on news item that FED is contemplating a bigger stake in Citigroup. Reinforcing my belief that BAC bottomed on Friday along with broad markets. We’ll see how she opens tomorrow.

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    “Whatever happens in the stock market today has happened before and will happen again.”    - Jesse Livermore

         
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    Posted: 22 February 2009 11:59 PM #5

    Here it comes…

    U.S. seeking up to 40 percent stake in Citigroup

    But Citigroup executives hope the talks with U.S. federal officials will result in a stake closer to 25 percent, the Journal reported.

    The lender is discussing with U.S. officials a scenario in which a substantial portion of the $45 billion in preferred shares held by the U.S. government, amounting to a 7.8 percent stake in Citigroup, would convert into common stock, the newspaper said.

    The Financial Times is reporting that

    Citigroup is pressing the US government to agree on a new capital injection that would increase the authorities? stake in the troubled bank to about 40 per cent but stop short of an outright nationalisation…

    According to its proponents, the injection of common stock would bolster Citi?s capital base while at the same time allaying market fears of a nationalisation. Under the plan, first revealed by the Financial Times last week, Citi could also try to raise fresh equity with a public share offering. The aim would be to keep the government stake to no more than 40 per cent or at least below 50 per cent, said people familiar with the plan.

    Will this in fact stop nationalisation, or is it in fact just the beginning?

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain

         
  • Posted: 23 February 2009 01:13 AM #6

    No more talk.  Just nationalize C and if need be BAC and any other bank that needs it so we can get back to AAPL.

    Aren’t people getting sick of hearing about the banks, day after day.  I know I am!!

         
  • Posted: 23 February 2009 01:37 AM #7

    Kiwi,

    I think its Obama that’s speaking on Wednesday…or is it Tuesday? The Federal Budget, or one of those other meaningless topics.

    US futures are green (now that everyone’s stopped watching the Oscars) and Asia is mixed.

    As for AAPL on Monday:

    R4         101.07
      midpoint   99.37
    R3       97.67
      midpoint   95.97
    R2       94.27
      midpoint   93.50
    R1       92.73
      midpoint   91.80
    PP       90.87
      midpoint   90.10
    S1       89.33
      midpoint   88.40
    S2       87.47
      midpoint   85.77
    S3       84.07
      midpoint   82.37
    S4       80.67

         
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    Posted: 23 February 2009 01:54 AM #8

    kiwitrader - 23 February 2009 12:57 AM
    alice - 23 February 2009 12:32 AM
    kiwitrader - 23 February 2009 12:19 AM

    We are to hear more details of Geithner’s plan on Wed. - correct me if I’m wrong.

    Where did you see this?

    Uh, could be the voices in my head that told me this.  :wink: That’s why I said “correct me if I’m wrong. In my search for the answer, I uncovered this article on Reuters. A blurb from it:

    But in coming days, the focus will remain squarely on Washington as Wall Street hope for details on a plan to bolster the financial sector, which suffered steep losses last week.

    Citing unnamed U.S. Treasury sources, CNBC said the administration will release some details this week on its bank rescue plan. A Treasury spokesman told Reuters he could not immediately comment on the report.

    Same voices are in my head, Kiwi. Come Wednesday we’re to receive more bits about Turbo Tim’s plan. A bone of some kind. Given the track record, the bone may be small, awkward and likely leave us speechlessly voicing, “That’s the best idea, you’ve got?”

    Which is to say that I think Mr. Market is bracing himself to be underwhelmed. Again.

    ‘Course, there could be more upside than down side.  tongue laugh

    [ Edited: 23 February 2009 01:57 AM by Eric Landstrom ]

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    Black Swan Counter: 9 (Banks need money, Jobs needs a break, Geithner has no plan, Cuomo’s grandstanding, .Gov needs a hobby, GS works for money, flash crash, is that bubbling crude?).

    For those who look, a flash allows one to see farther.

         
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    Posted: 23 February 2009 02:14 AM #9

    Alice and many other observers (and not just left-of-centre partisans like Krugman) are urging Uncle Sam to man up and nationalise already.  If the markets react negatively to fear, uncertainty, and doubt, and nationalisation is a necessary step to financial recovery, then the markets (and AAPL) should rise if we know C and BAC are going to be nationalised (though other bank shares would probably fall).  But to my mind, the stress tests produce more FUD, not clarity.

    Obama speaks on Tuesday in a quasi-State of the Union address to Congress (and the nation).

    I fear the week might start positively and then fall apart once it becomes apparent (again) there is no real plan.

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain

         
  • Posted: 23 February 2009 02:34 AM #10

    Eric Landstrom - 23 February 2009 05:54 AM

    Same voices are in my head, Kiwi. Come Wednesday we’re to receive more bits about Turbo Tim’s plan. A bone of some kind. Given the track record, the bone may be small, awkward and likely leave us speechlessly voicing, “That’s the best idea, you’ve got?”

    Which is to say that I think Mr. Market is bracing himself to be underwhelmed. Again.

    ‘Course, there could be more upside than down side.  tongue laugh

    Eric-Are you going long on the banks Monday - buying C?  BAC?

         
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    Posted: 23 February 2009 07:32 AM #11

    Winterpool - 23 February 2009 06:14 AM

    Obama speaks on Tuesday in a quasi-State of the Union address to Congress (and the nation).

    I fear the week might start positively and then fall apart once it becomes apparent (again) there is no real plan.

    That fits with my interpretation of a positive day Monday and some of Tuesday. This speech could mark the point of a rollover, or juice it until Turbo Tim announces that his plan is to have no plan.

    That would alleviate the oversold nature of things a little, before the selling recommences.

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    Throughout all my years of investing I’ve found that the big money was never made in the buying or the selling. The big money was made in the waiting. ? Jesse Livermore

         
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    Posted: 23 February 2009 10:28 AM #12

    alice - 23 February 2009 06:34 AM
    Eric Landstrom - 23 February 2009 05:54 AM

    Same voices are in my head, Kiwi. Come Wednesday we’re to receive more bits about Turbo Tim’s plan. A bone of some kind. Given the track record, the bone may be small, awkward and likely leave us speechlessly voicing, “That’s the best idea, you’ve got?”

    Which is to say that I think Mr. Market is bracing himself to be underwhelmed. Again.

    ‘Course, there could be more upside than down side.  tongue laugh

    Eric-Are you going long on the banks Monday - buying C?  BAC?

    Eric - I’d be curious what you’re doing with BAC as well? Lots of talk of this pop being simply short covering…and not many going long until we have more clarity on “the plan”. Anyhow, I would also appreciate your thoughts on financials.

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    “the market can stay irrational longer than you can stay solvent”
    -John Maynard Keynes

         
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    Posted: 23 February 2009 10:38 AM #13

    Why is AAPL being pulled towards $90?  Options expired on Friday!

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain

         
  • Posted: 23 February 2009 10:39 AM #14

    Most of the financials and even the auto makers are green this morning, yet AAPL is being sold off. :(

    [ Edited: 23 February 2009 10:43 AM by willrob ]      
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    Posted: 23 February 2009 10:42 AM #15

    AAPL below $90?

    Is it Jobs’s health again (Cringely article; Apple shareholder meeting)?

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    Ah, love, let us be true to one another! for the world… hath really neither joy, nor love, nor light, nor certitude, nor peace, nor help for pain