The sponge got up early and bought aapl in PM. Then as the first 10 minutes of trading started, I saw aapl go up $2 and then start to come down quickly. I saw that as a sign of weakness and potential negative. I sold my position s that I bought on Friday, Thursday, and this morning for a small loss. Now I have no margin at all and plenty of buying of power with my own money and lots of margin.
Luckily it worked out since we just went negative in a big way from the opening.
Lets hope this sell off gets over with and we can start to buy back.
Steve Liesman (sp?) was mentioning how the employment component of today’s ISM was above 50 which has been a few years since it happened. NFP is the big report this week and this bodes well for it. Just something to keep in mind if trading this week.
Steve Liesman (sp?) was mentioning how the employment component of today’s ISM was above 50 which has been a few years since it happened. NFP is the big report this week and this bodes well for it. Just something to keep in mind if trading this week.
Thanks runedge for your timely reports…much appreciated here. I think we’ll surprise to the upside on the employment #s. I missed the LOD earlier for Apple, but I’m holding probably all I need at the moment.
Steve Liesman (sp?) was mentioning how the employment component of today’s ISM was above 50 which has been a few years since it happened. NFP is the big report this week and this bodes well for it. Just something to keep in mind if trading this week.
Thanks runedge for your timely reports…much appreciated here. I think we’ll surprise to the upside on the employment #s. I missed the LOD earlier for Apple, but I’m holding probably all I need at the moment.
Ford reports a $1billion profit…Wow! F is up 9%.
You may get another chance at the LOD - $ looking like it may swoon which will bring markets down. Just something else to watch.
In its 10K filing with the Securities and Exchange Commission, Apple mentioned some of the money would go toward ‘product tooling and manufacturing process equipment,’ a sign the company may be “reversing course to actually build certain products/components in-house,” Caris & Company analyst Robert Cihra told investors Monday.
I THOUGHT APPLE has made some of their own manufacturing equipment for some time. I don’t think Robert understands Apple’s manufacturing strategy.
You could build a nice chip plant for 800 million.
Just to confirm. Apple closed down all manufacturing sites except the one in Sacramento, right?
More color on Steve L’s comment from the employment component of the ISM number today. It’s not verbatim but something like only 3 times in the past 30 years (or so) has the ISM employment number been above 50 and NFP number negative. From a trading standpoint I think you may see shorts get a little less open to staying short overnight / into the latter part of the week. If you want to read more on this I would imagine you can find it on CNBC somewhere.
Let me start of this post by saying, my TA stinks. Therefore, I’d like to know what all you smart guys think of this article of at The Street.com today.
Hopefully this isn’t considered a new thread topic. I felt placing it here in intraday would give it more visibility and since it came out today, was relevant to the thread.
Let me start of this post by saying, my TA stinks. Therefore, I’d like to know what all you smart guys think of this article of at The Street.com today.
Hopefully this isn’t considered a new thread topic. I felt placing it here in intraday would give it more visibility and since it came out today, was relevant to the thread.
Clearly aapl has “bruises” on it’s charts, most equities do right now during a correction. I didn’t bother reading the article because it’s at TS.com - Question is what’s your time horizon for your investment and risk tolerance. I assume you don’t trade if you say your TA stinks.
AAPL closed for the first time since early July well below the 20d EMA, which turned downwards for the first time since May. The next stock moving news will come for sure in late January, at the next earnings release, since MacWorld is likely to be snoozer this year. The S&P has also started looking negative for the first time since July. From a technical standpoint, I am concerned.
ADD:
Currently the lower BB is at $181.36 and the 50d EMA lies at $184.09.
The $ is showing major strength right now which will certainly put pressure on equities. Nervous shorts perhaps covering ahead of tomorrow’s FOMC announcement. It’s a big move for sure if you watch it on a daily chart.
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