This may also be contributing to the rise in AAPL

Credit Suisse Ups Estimates on iPhone, Mac

I’m sitting on my APPL core position (no pun intended), and don’t really plan on picking up any more at the moment unless the market turns and we go back down to Feb/March levels.  So in this relatively “sideways” market after the rally, would it be a good time to sell some covered calls?  I’ve never gone that route, and am a long term investor, but feel like maybe I could generate some revenue from these shares.  Thoughts?

litespeed - 10 July 2009 09:25 AM

Hmmm, seems like the market wants to rally even in face of a bad consumer sentiment number.

By “the market”, do you mean Goldman?

From Twitter:  King of the Short sellers Doug Kass this was posted
last night

Doug Kass puts on Large bullish position..Shorting SPY puts..right at the high of the day

DK has been pretty good this last year

OK, so we’ve now retraced 38.2% or so from the low on Wednesday. If that is merely a pullback in this move down, then a 61.8% extension from here, takes us to the region of 132.50 and a 100% extension would be around 128.60. The 1.618% extension is something like 122.20, which is in the region of a bunch of other Fib lines from various other extensions and retracements, along with a gap just above there. So, if things get that low, there’s quite a lot of support there.

As to the current high today, that’s where another of AAPL’s retracement levels is sitting at 138.82. FWIW, the SPX has once again crossed below the mythical 877 line.

Been real battles on the indices these last couple of days trying to negate the H&S pattern. The problem for the bulls is that with a negative close on the S&P today it will issue a weekly sell signal for the first time, according to some sources. The daily has already done this a while ago and with a weekly confirmation, next week could get ugly.

But it is amazing how much AAPL is bucking the trend. If the markets reverse, AAPL could soar!

Meanwhile, let’s check into the G8 summit to find out how talks are proceeding….

It appears that they’re looking into stimulus packages.

Eric Landstrom - 10 July 2009 10:59 AM

Meanwhile, let’s check into the G8 summit to find out how talks are proceeding….
...
It appears that they’re looking into stimulus packages.

The other side of the stimulus package.

I’ll do without….but that’s just me.

awcabot - 10 July 2009 01:12 PM

Eric Landstrom - 10 July 2009 10:59 AM

Meanwhile, let’s check into the G8 summit to find out how talks are proceeding….
...
It appears that they’re looking into stimulus packages.

The other side of the stimulus package.

I’ll do without….but that’s just me.

It’s a funny photo but context of a video shows that Obama was, in point of fact, a perfect gentleman.

http://www.msnbc.msn.com/id/21134540/vp/31849470#31849470

artman1033 - 09 July 2009 11:31 AM

Good old GS, might be getting their comeuppance. With the recent article in RS, their “odd” computer trading issues, their possible losses on oil; the FEDS might be onto them.

Don’t bet on it.  The Feds are GS, and GS are the Feds.

“The creatures outside looked from pig to man, and from man to pig, and from pig to man again; but already it was impossible to say which was which.”