A new trading week following a long weekend. What should we expect for AAPL in early Monday trading?

Article over at Bloomberg that Samsung posted a 1.7 billion dollar 2nd Quarter profit, shares are up 2.2% in early trading. (oops-up 4.5% now- biggest advance since Feb 6).
Could have a positive effect on AAPL for Monday.

Monday

R4         150.00
  midpoint   148.48
R3       146.96
  midpoint   145.44
R2       143.92
  midpoint   142.95
R1       141.97
  midpoint   141.43
PP       140.88
  midpoint   139.91
S1       138.93
  midpoint   138.39
S2       137.84
  midpoint   136.32
S3       134.80
  midpoint   133.28
S4       131.76

Asia is red, Europe is red, A few links over the weekend say the big boys are short the market. What’s a contrarian to do?

danthemason - 06 July 2009 06:02 AM

Asia is red, Europe is red, A few links over the weekend say the big boys are short the market. What’s a contrarian to do?

Cliche response:

The Trend is your Friend.

Fact is I haven’t a clue. I do notice that the banks were much lower before the pre-market opened. So I’m not sure how long this “buying opportunity” will last today. We may see the market end the day green, assuming investors don’t panic and see this as a way to get back in and not bail out without a parachute.

willrob - 06 July 2009 07:48 AM

danthemason - 06 July 2009 06:02 AM

Asia is red, Europe is red, A few links over the weekend say the big boys are short the market. What’s a contrarian to do?

Cliche response:

The Trend is your Friend.

Fact is I haven’t a clue. I do notice that the banks were much lower before the pre-market opened. So I’m not sure how long this “buying opportunity” will last today. We may see the market end the day green, assuming investors don’t panic and see this as a way to get back in and not bail out without a parachute.

Supporting that premise, just bought some aapl @137.62. Tight stop. Think the market ends green today.

Edit-oil is also looking interesting. Thinking of scaling in EOD.

Edit2-Stopped out at 137.32. Trying again at 136.77.

ISM Non-Mfg Index comes in at slightly higher than expected, but AAPL doesn’t seem to care.

I am watching it… but can’t believe it…136.5 how low can we go?

N.L. - 06 July 2009 09:22 AM

I am watching it… but can’t believe it…136.5 how low can we go?

$78.20

ConMan - 06 July 2009 09:26 AM

N.L. - 06 July 2009 09:22 AM

I am watching it… but can’t believe it…136.5 how low can we go?

$78.20

Realistically…$120 (but not in a straight line)!

danthemason - 06 July 2009 06:02 AM

Asia is red, Europe is red, A few links over the weekend say the big boys are short the market. What’s a contrarian to do?

I’m buying stock. 

FAZ?

Eric Landstrom - 06 July 2009 10:07 AM

danthemason - 06 July 2009 06:02 AM

Asia is red, Europe is red, A few links over the weekend say the big boys are short the market. What’s a contrarian to do?

I’m buying stock. 

May we ask which ones are on your list Eric?

Mayor Quimby - 06 July 2009 10:09 AM

FAZ?

AAPL, C, BAC, JPM, DE AGCO, STV, RAD, MON, SSYS, NYX (I dig its yield) so far today. I’m in total fund manager mode and have some longer term goals in view. For example, when Spanked by America repurchases their TRAP, err TARP preferred, the common stock will receive an expected accrual of $0.35 per share in additional earnings. When the Spanked One, Ken Lewis, purchased Merrill Lynch and Country Wide, Bank of America internally did their own good bank, bad bank by transferring the toxic assets off of Merrill and Country’s books and unto Spanked by America’s books which has $1.9 trillion in earning assets and which could better absorb the body blows of massive write downs. After transferring the assets, Bank of America then flipped on the switch for Merrill and Country Wide and fired them both back up. The interest from the yield curve, trading gains from Merrill on 30-35% market rebounds, rampant mortgage origination at Country Wide and legacy returns from BAC’s good assets, will lead to an earning beat of at least $0.14 a share above the aggregate street expectation of $0.26 or $0.27 per common share.

Meanwhile, Paulson is the next contestant on Capital Hill’s the Price is Right™ game and Hank is scheduled to give the wheel a spin on the 16th a day before BofA’s pre-market earnings release. Paulson may appeal to the point that Merrill Lynch made $3.66 Billion after tax in Q1 which when annualized is nearly $15B. Merrill’s monster earnings make it difficult to criticize the Spanked One for purchasing Merrill lock, stock and barrel for $29.2 billion. Yet given the Spanked One’s perceived tenuous position on the street, if Ken thought BAC was going to come under the street’s earnings expectations, I expect that BofA would pre-announce to soften the blow as well as to show Lewis’ earnestness of turning over a new not-Paulson/Bernanke influenced forthcomingness to provide shareholders accurate and timely announcements about BAC’s clockworks. Yet nothing has been pre-announced.

I like FAZ.

It looks like all the banks are down this morning still reeling from the jobs numbers last Thursday, but BAC got an extra kick in the balls from Credit Suisse, who lowered their target to 12, due to what they claim will be a 7B loss from various segments.