AAPL Intraday Updates

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    Posted: 02 October 2009 11:55 AM #106

    Plato - 02 October 2009 02:44 PM

    70 minutes into the trading day and we’re at around 8.5mio volume. Looking good. 185.40 as I type. Wow!!

    More importantly,

    260m of C and 98M of BAC. There was a surge of selling on the way down, monster spikes as value buyers stepped in and explained to the bears that they cannot win by pulling their wallets out of our pockets and pummeling the bears about the head until they cried, “mama” and now we see some selling to refill our wallets.

    I can see how people get brain washed if they listen to CNBC: with exception to the trading floor reporters, not one constructive story. Mostly inaction of money on the sidelines, fear, uncertainty and doubt. Oh, and the double dip theory. And lest we forget: one story on how stupid the stimulus has been (agreed).

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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: 02 October 2009 01:07 PM #107

    artman1033 - 02 October 2009 03:25 PM

    THIS JUST IN: CHICAGO eliminated from Olympics.

    We are getting quite a bit off topic, but Economic Benefits of Hosting Olympics Are Few

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    Tightwad.

         
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    Posted: 02 October 2009 01:39 PM #108

    awcabot - 02 October 2009 04:07 PM
    artman1033 - 02 October 2009 03:25 PM

    THIS JUST IN: CHICAGO eliminated from Olympics.

    We are getting quite a bit off topic, but Economic Benefits of Hosting Olympics Are Few

    I was thinking the same thing. Besides traffic jams and a big, new pool, what other benefits come from hosting the Olympics?

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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: 02 October 2009 01:44 PM #109

    Eric Landstrom - 02 October 2009 04:39 PM
    awcabot - 02 October 2009 04:07 PM
    artman1033 - 02 October 2009 03:25 PM

    THIS JUST IN: CHICAGO eliminated from Olympics.

    We are getting quite a bit off topic, but Economic Benefits of Hosting Olympics Are Few

    I was thinking the same thing. Besides traffic jams and a big, new pool, what other benefits come from hosting the Olympics?

    The Olympics, due to the financial burden, was almost dead until the 1984 LA Olympics, which was funded almost entirely without public funds. The surplus from that event funded various youth programs throughout the city for nearly 10 years.  Since that time, cities have been trying to replicate that success with limited results.

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    “Once we roared like lions for liberty; now we bleat like sheep for security! The solution for America’s problem is not in terms of big government, but it is in big men over whom nobody stands in control but God.”  ?Norman Vincent Peale

         
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    Posted: 02 October 2009 01:51 PM #110

    Eric Landstrom - 02 October 2009 04:39 PM

    I was thinking the same thing. Besides traffic jams and a big, new pool, what other benefits come from hosting the Olympics?

    Corruption of public officials and cronyism. I think that Madrid and Rio are poor choices. Brazil will likely host the 2014 FIFA championship and Spain hosted the Olympics in Barcelona in 1992: enough world sporting events in those two countries. I would have preferred some other city. Jerusalem would have been more interesting, just for the controversy it would created!

    In other news, my morning predictions were wrong. Didn’t buy any puts, just waiting a bit.

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    Tightwad.

         
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    Posted: 02 October 2009 01:54 PM #111

    OT: why does every broker require its own options agreement when the agreement is an SEC thing? Can’t they just look me up on a computer and say, “Oh, this is Eric. He’s huge in Japan.

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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: 02 October 2009 02:15 PM #112

    Eric Landstrom - 02 October 2009 08:39 AM
    I was thinking the same thing. Besides traffic jams and a big, new pool, what other benefits come from hosting the Olympics?

    In response to your post E - I think the quick answer is Urban Regeneration.

    Take for instance the East Side of London.  I haven’t been there since I was in school for Sports Mgmt. six years ago. One class we took dealt with urban regeneration and large sporting events like the Olympics, Rugby & Soccer World Cups.
    We took trip out to East London when London was awarded the 2012 Olympics and checked out all the sites.  Not exactly the finest looking region at the time. I’ve heard a few stories from friends since and in the news about the some of the changes.  Transportation has been much improved, housing upgraded, new local businesses opening, etc.

    Of course this is all predicated upon politicians and bureaucrats making wise choices with our public $. There have been quite a few professional publications who have studied the results of this type of public re-investment.  LA in ‘84 was of course what people got fired up. Put $1 in, get $2 out.  Then there was the Montreal Olympics (I think that’s correct) and if I remember correctly, the citizens are still paying for the Olympics in additional taxes to this day.  Not many Olympics since have shown to provide direct profits but the indirect benefits are quite tasty.

    I live in SF, a 10 minute bike ride from North Beach to AT&T Park. I can tell you for certain that the ballpark transformed China Basin.  That part of SF used to be a dump when I was a kid. Lonely docks and warehouses, run down and otherwise an empty region of the City. It’s now becoming one of the nicer parts of SF in my opinion and the ballpark was the catalyst.  However, it was done w/ private $, not public.  SF is still hoping to see a new 49ers stadium in Hunter’s Point with the plan of re-creating the same results.

    M

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    Posted: 02 October 2009 05:20 PM #113

    Anyone looking at rimm in the 63 range.  Broke down pretty well today and 63 looks like good support.  Anyone?

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    NOBAMA / Carter 2012 - “Yes we can - we just figured out a way - it’s called the American deem”

         
  • Posted: 02 October 2009 05:52 PM #114

    runedge - 02 October 2009 08:20 PM

    Anyone looking at rimm in the 63 range.  Broke down pretty well today and 63 looks like good support.  Anyone?

    I sold my puts too early today - what else is knew!! And yes, now I am waiting for 63 range. I have to check the charts again, but this morning 63 is were the 200 MA is sitting. Also it is sitting around the 38.2% fib retracement area - and the 200 MA and the 50% retracement area are lining up around 63 or so. Should be support if we reach that. JMHO.

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  • Posted: 02 October 2009 05:57 PM #115

    On a different note - I can’t believe how much the IV cut out of my 185 oct calls! Around noon when AAPL was at 185 - my calls where at $5 - now at the close they are at $4.55. We still have 10 trading days left until OE. Hope we can reach 190 next week - that should get me at least $6.50 - $7 for the 185 calls.

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    “We hang the petty thieves and appoint the great ones to public office.” - Aesop

         
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    Posted: 02 October 2009 07:36 PM #116

    Plato - 02 October 2009 08:52 PM
    runedge - 02 October 2009 08:20 PM

    Anyone looking at rimm in the 63 range.  Broke down pretty well today and 63 looks like good support.  Anyone?

    I sold my puts too early today - what else is knew!! And yes, now I am waiting for 63 range. I have to check the charts again, but this morning 63 is were the 200 MA is sitting. Also it is sitting around the 38.2% fib retracement area - and the 200 MA and the 50% retracement area are lining up around 63 or so. Should be support if we reach that. JMHO.

    I sold aapl calls too early as well.  No one could predict today’s action.  It was a coin toss and being safe was the first goal.  The other thing with 63 is it was decent resistance going back to around 4/6 on a gap up and then has served as decent support since then.  Looks like barring no major meltdown in the indices and the lack of downside momentum 63 could serve as decent support again.  May become a crowded trade at that level though.

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    NOBAMA / Carter 2012 - “Yes we can - we just figured out a way - it’s called the American deem”

         
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    Posted: 02 October 2009 07:39 PM #117

    Plato - 02 October 2009 08:57 PM

    On a different note - I can’t believe how much the IV cut out of my 185 oct calls! Around noon when AAPL was at 185 - my calls where at $5 - now at the close they are at $4.55. We still have 10 trading days left until OE. Hope we can reach 190 next week - that should get me at least $6.50 - $7 for the 185 calls.

    I noticed that as well on another strike.  The vix certainly dropped later in the day when it looked like intraday armageddon was not going to occur.  Not sure if you chaulk this up to a win for the bulls or bears.  The rally off the lows could have simply been nervous shorts covering when the lows looked to hold.  Not sure how much the bulls jumped in with conviction at that point as proven by the sell off into the close.  Could also argue if the bears had conviction they would have jumped back on when the gap was filled.  At least we all have a weekend to sit back and think about this further.

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    NOBAMA / Carter 2012 - “Yes we can - we just figured out a way - it’s called the American deem”

         
  • Posted: 02 October 2009 08:18 PM #118

    runedge - 02 October 2009 08:20 PM

    Anyone looking at rimm in the 63 range.  Broke down pretty well today and 63 looks like good support.  Anyone?

    I have YET to make money on RIMM.  I bought the day after near the 70s, thinking the one-day drop was overdone.  Silly me.  I remember buying puts on RIMM a year ago and lost on OE (just before the meltdown).

    I use to have a BB.  Hated it.  But people in the office swear by them and they ARE entrenched in the enterprise market.  Apple is making inroads with the iPhone, but Apple’s small computer presence in the enterprise market hurts it, even with MS Exchange support.  I’ll get out of RIMM at mid-70s, as I feel a little unclean owning the stock.  I hope I see it, despite Plato’s puts.

    I thought I should diversify some in the mobile market.  Come on RIMM, show me something more than a physical keypad.  The Storm blows.  The Tour isn’t terrible, but the trackball has issues.