AAPL Intraday Updates (Archive)

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    Posted: 23 February 2009 10:42 AM #16

    Winterpool - 23 February 2009 02:38 PM

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

    “OE hangover” I assume it means, usually clears up after the first hour or so. I’ll let one of the options traders explain the phenomenon, as
    I’m just repeating behavior I constantly see the Monday after OE.

         
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    Posted: 23 February 2009 10:43 AM #17

    Winterpool - 23 February 2009 02:42 PM

    AAPL below $90?

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

    I wish someone would just shoot that Cringely ****er. AAPL back in the toilet due to some unfounded rumor that SJ hasn’t logged onto chat. FFS he could just be on holiday!

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    Posted: 23 February 2009 10:50 AM #18

    FWIW, it’s not just AAPL, the Nasdaq is in the red.

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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 10:50 AM #19

    Winterpool - 23 February 2009 02:38 PM

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

    October options are being written today. The suppliers of stock want to push the price down so they can buy options at a low price, hence ensuring sufficient supply as the price rises. Generally takes about three days for them to complete their purchases.

         
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    Posted: 23 February 2009 10:53 AM #20

    kiwitrader - 23 February 2009 02:42 PM
    Winterpool - 23 February 2009 02:38 PM

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

    “OE hangover” I assume it means, usually clears up after the first hour or so. I’ll let one of the options traders explain the phenomenon, as
    I’m just repeating behavior I constantly see the Monday after OE.

    I want thank you Kiwi. If you hadn’t of reminded us of this on Friday, I would have bought during the Friday rally into the close. Everything in me wanted to pick up some AAPL…but, I’m trying to do better at sticking with my “plan”. Kudos to Kiwi.

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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 10:54 AM #21

    On Friday, we bounced right off of 89.00 exactly. I’m watching to see how it holds today…so far so good.

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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 10:56 AM #22

    ConMan - 23 February 2009 02:54 PM

    On Friday, we bounced right off of 89.00 exactly. I’m watching to see how it holds today…so far so good.

    FWIW :wink: , Mace’s latest post in EW thread states $88.90 as the must-hold level for his “bullish” count.

         
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    Posted: 23 February 2009 10:58 AM #23

    Ah, so we oughtn’t necessarily to buy on this dip expecting an afternoon recovery (if the markets hold their gains)...  The three-day period is in accord with AAPL declines we’ve seen after OE recently.

    Of course that would keep AAPL down until Geithner smashes the entire market on Wednesday.  tongue laugh   We might cross under $89 soon.

    So… anyone buying those banks for longer than this morning?  I mean other than Uncle Sam?

    Comparing Citigroup’s market capitalization with the number of preferred shares the government currently owns, if these shares were converted right now to common stock, they would worth more than 100 percent of Citi’s total market capitalization.

    BAC is in slightly better shape: the government would own 66 per cent (Bloomberg also gives an 80 per cent .gov ownership figure for C).

    Edited: ouch; we do seem to have lost 88.90.

    [ Edited: 23 February 2009 11:07 AM by Winterpool ]

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    Posted: 23 February 2009 11:00 AM #24

    ConMan - 23 February 2009 02:53 PM

    I want thank you Kiwi. If you hadn’t of reminded us of this on Friday, I would have bought during the Friday rally into the close. Everything in me wanted to pick up some AAPL…but, I’m trying to do better at sticking with my “plan”. Kudos to Kiwi.

    Most welcome CM, but I’m just playing my part as the AFB record keeper. Though my facts are often slightly off. I’d be a good candidate for reporter on CNBC.  LOL

         
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    Posted: 23 February 2009 11:01 AM #25

    kiwitrader - 23 February 2009 03:00 PM
    ConMan - 23 February 2009 02:53 PM

    I want thank you Kiwi. If you hadn’t of reminded us of this on Friday, I would have bought during the Friday rally into the close. Everything in me wanted to pick up some AAPL…but, I’m trying to do better at sticking with my “plan”. Kudos to Kiwi.

    Most welcome CM, but I’m just playing my part as the AFB record keeper. Though my facts are often slightly off. I’d be a good candidate for reporter on CNBC.  LOL

    Kiwi Burnett.  :wink:

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    “the market can stay irrational longer than you can stay solvent”
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    Posted: 23 February 2009 11:19 AM #26

    So much for our ‘oh what a relief it is’ rally?  It didn’t even last the opening hour.

    And as to tech…  what is up (or down)?  Are we anticipating crappy crap Dell earnings?  Would that be a shocker?

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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

         
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    Posted: 23 February 2009 11:27 AM #27

    Not sure we will see a bullish rally after the latest selloff.  S&P charts looks awful from Jan 1 until now.  Since there will only be more bad news, I can not see what will keep us up.

    I should point out that the iPhone is a big hit with my kids and all the ladies.  if Apple would only dump ATT and lower the price a little more, they could sell millions more.

    one of my concerns is that even if we drop in the low 80’s or high 70’s, we will stay there for a very long time before we recover.  the next 5 months are critical.

         
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    Posted: 23 February 2009 11:43 AM #28

    762 on the S&P is where we showed support on Friday…until we broke down about 12:30. That support is being tested again right now.

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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 12:16 PM #29

    ConMan - 23 February 2009 03:43 PM

    762 on the S&P is where we showed support on Friday…until we broke down about 12:30. That support is being tested again right now.

    Well, if it means anything…
    Friday’s LOD’s:754/7249 so, perhaps we need to retest these? So far, it’s a success. But the day is young.

    In addition to Captainboom’s explanantion of the AAPL sell-off, perhaps there’s a bit of profit taking in tech right now to buy financials? they are holding up quite well in comparison to Friday.  rolleyes

    Edit: except RIMM which is up 1.5% and has been slowly buiding the last hour and a half. Short covering?

    [ Edited: 23 February 2009 12:30 PM by kiwitrader ]      
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    Posted: 23 February 2009 12:47 PM #30

    Anyone picking up any AAPL shares before we drop through $87?  rolleyes

    Everything seems to be down other than financials (and they’re below their opening surge).  Looks like Dell may fall below $8 again soon.

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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