AAPL Intraday Updates

  • Posted: 18 September 2009 11:12 AM #196

    awcabot - 18 September 2009 02:09 PM
    Plato - 18 September 2009 01:35 PM

    And the party continues, disregarding reality. PALM another tech company that disappoints, but, oh well. It’s amazing.

    Anybody thinking of buying puts once GOOG reaches $500?

    I got caught unawares in this sudden updraft. I regret having bailed out some calls that had just turned green, but I am not getting back in. I have set a few stop-losses on the calls I am still holding, bought a few puts that are getting redder, but I will wait till next week for things to settle down a bit.

    I would wait - IMHO we just had a double top on AAPL and we are way above the upper BB - time for a correction. I am waiting for 175-178 to get back in.

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    Posted: 18 September 2009 11:18 AM #197

    Plato - 18 September 2009 02:12 PM

    ... IMHO we just had a double top on AAPL and we are way above the upper BB - time for a correction. ...

    What time frame are you looking at?

         
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    Posted: 18 September 2009 11:22 AM #198

    Quadruple witching today.  Lots of volume and for someone not well versed in such a day good reason to stand clear and not draw conclusions of market direction either way.  I do note aapl broke out on higher volume of a trend it’s been in since March which is either a trap or very bullish.  The fact it did it on higher volume than the day before when it touched the trend is more bullish though.

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    Posted: 18 September 2009 11:24 AM #199

    Good Morning Boys and Girls

    The sponge was impressed with how strong the market started this morning and the volume in aapl. So I decided to jump back in with about 60%  for a quick trade.

    We have come back from 186, but I think if the market recovers we could see 189 so that is when I plan bailing out.  Otherwise, I will hang on until tuesday.

    Good Luck to all.

         
  • Posted: 18 September 2009 11:35 AM #200

    CaptainBoom - 18 September 2009 02:18 PM
    Plato - 18 September 2009 02:12 PM

    ... IMHO we just had a double top on AAPL and we are way above the upper BB - time for a correction. ...

    What time frame are you looking at?

    3 days - 15 minutes. I know it’s very short term, but the upgrade today didn’t help to make a new high. It bounced off of yesterday’s high (or close to) and the RSI on the daily is at 85 - very overbought IMO. Also the entire market looks tired and I think is running out of steam. I am very short term oriented, so for long term investors, they might just stay long. I took my profit yesterday from my calls I held since May or so and bought puts. If we reach a new high, I will re-evaluate.

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    Posted: 18 September 2009 11:56 AM #201

    Dennis Gartman has been talking about this lately as have a few others.  Watch a reversal (strengthening) in the $ to hit commodities and cause a sell off in equities.  Any sell off may be short and not very deep but if you are looking for a short term sell high buy lower then watch the $.  Lots of short interest in the $ and looking at a few charts it does show signs of a reversal.  Personally I believe the economy does recover faster than others are predicting but the one piece of data not supporting that theory is the Baltic Dry Index which is flat to slightly down for a bit.  The only question is how accurate is the BDI of a pick up in production.  Some are beginning to question it’s relevance.

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    Posted: 18 September 2009 12:07 PM #202

    Interesting tidbit I just read.  Remember when the govt. guaranteed money markets (time when some “broke the buck.”  It had the negative affect of causing panic buying of money markets as a safe haven based on the guarantee.  Well the guarantee expires soon and money has been rushing out and needs to go somewhere.  Could be a short term fuel for this rally.  Here’s a piece from Seeking Alpha on it -

    A federal guarantee to safeguard money market assets is set to expire today, prompting investors to increase their withdrawals. On Tuesday and Wednesday, investors withdrew a much larger than usual total of $55B from money market funds. For the most part, however, industry participants think “folks who wanted out of money funds have already taken their cash and put it elsewhere,” so while outflows will likely continue, they won’t be panicked.

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    Posted: 18 September 2009 12:20 PM #203

    runedge - 18 September 2009 03:07 PM

    Interesting tidbit I just read.  Remember when the govt. guaranteed money markets (time when some “broke the buck.”  It had the negative affect of causing panic buying of money markets as a safe haven based on the guarantee.  Well the guarantee expires soon and money has been rushing out and needs to go somewhere.  Could be a short term fuel for this rally.  Here’s a piece from Seeking Alpha on it - ...

    Good point Tony. I like the Seeking Alpha’s daily briefing (or whatever they call it - nice and concise). The only thing that scares me is that Sponge and Mark are back posting, that’s a sign of something, just not sure what yet grin

    BTW, Kiwi is alive and well, just hiding at some other forums.

         
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    Posted: 18 September 2009 12:42 PM #204

    runedge - 18 September 2009 03:07 PM

    Interesting tidbit I just read.  Remember when the govt. guaranteed money markets (time when some “broke the buck.”  It had the negative affect of causing panic buying of money markets as a safe haven based on the guarantee.  Well the guarantee expires soon and money has been rushing out and needs to go somewhere.  Could be a short term fuel for this rally.  Here’s a piece from Seeking Alpha on it -

    A federal guarantee to safeguard money market assets is set to expire today, prompting investors to increase their withdrawals. On Tuesday and Wednesday, investors withdrew a much larger than usual total of $55B from money market funds. For the most part, however, industry participants think “folks who wanted out of money funds have already taken their cash and put it elsewhere,” so while outflows will likely continue, they won’t be panicked.

    Money that has been hibernating in a Bond Cave? will start coming out after the thaw.

    What this basically means is that liquidity is trumping fundamentals as money pours back into equities from bonds.

    For the financials, despite the 1.3 billion served in C yesterday, I’m slowly watching volume dry up suggesting that we’re in a trading range until next earnings season.

    FRE and FNM wise there are some MMs that truly believe that FRE and FNM will wipe out their common next year as the next wave of mortgages defaults and however they are able to do it, they continue to pump more shares into the market shorting. I have been buying more FRE than FNM because I see FRE is better positioned. I’ve also been amassing calls because opportunity has come up from time to time where the time value was discounted to less than zero, making calls a value play in my book.

    [ Edited: 18 September 2009 01:13 PM by Eric Landstrom ]

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    Posted: 18 September 2009 02:15 PM #205

    ChasMac77 - 18 September 2009 03:20 PM

    The only thing that scares me is that Sponge and Mark are back posting, that’s a sign of something, just not sure what yet grin

    Good conservative Republicans like Mark and I should not scare you. Especially since you have your man in the WH.  We thrive regardless of who is in charge and show our faces when we are about to make more money again. :-D

         
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    Posted: 18 September 2009 02:23 PM #206

    ChasMac77 - 18 September 2009 03:20 PM

    The only thing that scares me is that Sponge and Mark are back posting, that’s a sign of something, just not sure what yet grin

    BTW, Kiwi is alive and well, just hiding at some other forums.

    What is scary is my plumber is coming back today. Remember last time I came home and saw him I knew it was going to cost nothing but money….

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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: 18 September 2009 03:10 PM #207

    artman1033 - 18 September 2009 05:34 PM
    Eric Landstrom - 18 September 2009 05:23 PM
    ChasMac77 - 18 September 2009 03:20 PM

    The only thing that scares me is that Sponge and Mark are back posting, that’s a sign of something, just not sure what yet grin

    BTW, Kiwi is alive and well, just hiding at some other forums.

    What is scary is my plumber is coming back today. Remember last time I came home and saw him I knew it was going to cost nothing but money….

    With that smile on his face, I am guessing $845.62

    I kid you not, he’s talking dropping the ceiling in one room and punching holes in the wall in another room….

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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: 18 September 2009 04:03 PM #208

    Anyone questioning the validity of this move pull up a monthly chart on the SPX.  The down trend from the highs is being tested right now.  Says a lot…

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