F is a trader’s dream thus far today. With PM, we’ve had three good pops and two good dips.

F is relevant to AAPL because of what a f….... day or because of in-car navigation prospect?

The way AAPL has been hugging $137 makes it feel like OE.

If the market turns green, IMO, this would be another good opportunity for a swing trade in aapl.

Edit-just picked up aapl @136.36 stop at 135.99. Will probably sell EOD.

I know I have said this before, but this time it’s really true… this has got to be THE slowest trading day ever.

Spike up, also in the S&P, with a spike down in the VIX. Any news?

As of today, the 20d-EMA is $136.06. Low of the day is $136.04. Coincidence?

Only sold half my position EOD. I think we might get a gap up on Monday morning.

Next week the Pumpkin should arrive, but I’m expecting the indices to print a final high.

awcabot - 12 June 2009 01:47 PM

Spike up, also in the S&P, with a spike down in the VIX. Any news?

I guess a bunch of stocks (like AAPL) crossed above their downtrend line that they’d been under for most of the day and a bunch of cover stops got hit.

cramar - 12 June 2009 03:10 PM

Next week the Pumpkin should arrive, but I’m expecting the indices to print a final high.

Cramar, seems like the anticipated move lower may not appear until earnings season. What, in your opinion, will act as the catalyst in pushing us off a cliff next week instead of sideways?

TIA,
Chris

litespeed - 12 June 2009 05:10 PM

cramar - 12 June 2009 03:10 PM

Next week the Pumpkin should arrive, but I’m expecting the indices to print a final high.

Cramar, seems like the anticipated move lower may not appear until earnings season. What, in your opinion, will act as the catalyst in pushing us off a cliff next week instead of sideways?

TIA,
Chris

It will be OE week. There’s always that.

litespeed - 12 June 2009 05:10 PM

cramar - 12 June 2009 03:10 PM

Next week the Pumpkin should arrive, but I’m expecting the indices to print a final high.

Cramar, seems like the anticipated move lower may not appear until earnings season. What, in your opinion, will act as the catalyst in pushing us off a cliff next week instead of sideways?

I’ll take a stab at this. What will push things lower is an absence of good news. AAPL is no longer the investor’s stock of 2003 and has become a trader’s stock. Most of the action is either news or analyst driven. If things go a bit quiet, then the bullish momo players will get bored and move elsewhere, the stock will start to sag and the bears will chip away until they get some downside momentum going at which point the bearish momentum players move in. What will turn things up again is a flurry of good news either specific to AAPL or the market as a whole.

My biggest concern for AAPL at present is that most of the analysts have high targets now, so there won’t be many target upgrades for a while, so what will drive things higher now are EPS upgrades and people like Cramer pumping AAPL daily. When prices start to get downside momentum, the analysts go very quiet or start to downgrade. Munster will come out every so often, like he did today, but folk are beginning to get a tad anaesthetised to his frequent comments. It’s only when people like Huberty massively change their view do people sit up and take notice.

willrob and wheeles, thanks for responding. My question was really regarding the broader markets. I do agree with the premise that aapl probably will be pinned to OE. I also think that Plato was right that we might touch 133 next week. Aapl seems to be trending down while the broader markets are trending sideways. Anyone think that maybe commodities are overdone and there maybe sector rotation into tech or financials?

litespeed - 12 June 2009 11:14 PM

willrob and wheeles, thanks for responding. My question was really regarding the broader markets. I do agree with the premise that aapl probably will be pinned to OE. I also think that Plato was right that we might touch 133 next week. Aapl seems to be trending down while the broader markets are trending sideways. Anyone think that maybe commodities are overdone and there maybe sector rotation into tech or financials?

Financials, notably BAC, have already started some rally like movement. But they are so heavily day traded it’s hard to take any move seriously until it’s consistent for over a week (or at least a weekend) and real accumulation can be seen. Art Cashin (see Conman’s thread) thinks next week will be a tell. But then he thinks practically every trading day is a sign from the Market Gods.