AAPL Intraday Updates (Archive)

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    Posted: 18 May 2010 11:41 AM #31

    awcabot - 18 May 2010 02:29 PM

    DId Jim Cramer just say something silly? AAPL is going down. Not a lot, but so far the biggest move of the day, and it looks ugly on the intraday chart.

    The whole spx turned quickly. I think because we are in OE week, aapl may touch 250 again before the steady climb back to 270.

    I bought more the last few days. A little risky given the volatile market, but I think we will jump quickly to 265.

    Lots of good news with new MacBooks and solid Mac sales and iPads being sold out.

    Also good CPI numbers and consumer sentiment all bode well for a nice summer and solid autumn.

         
  • Posted: 18 May 2010 11:54 AM #32

    WTF !! :groucho:

         
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    Posted: 18 May 2010 12:00 PM #33

    thealct - 18 May 2010 02:54 PM

    WTF !! :groucho:

    Chinese fire drill.  grin

    Signature

    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.

         
  • Posted: 18 May 2010 03:48 PM #34

    Interpretation please.

    I think there may be a bit of a rally Thur. and Friday. With the 250 level reached many short, open positions will close with visions of selling higher strikes. After all option writers need to eat too.

         
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    Posted: 18 May 2010 03:52 PM #35

    danthemason - 18 May 2010 06:48 PM

    Interpretation please.

    I think there may be a bit of a rally Thur. and Friday. With the 250 level reached many short, open positions will close with visions of selling higher strikes. After all option writers need to eat too.

    250 is max pain.  They might vote today on the bank bill.

         
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    Posted: 18 May 2010 04:39 PM #36

    Eric Landstrom,

    As a Dow Theory practitioner, what do you think about the article below:

    Sell Everything Liquid.  And join the gold rush.


    mbeauch,

    Did you cover your written calls as suggested by danthemason?  I plan to let the written calls (May $260) expire worthless.  And then write Jun calls next week.

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    Stay Hungry. Stay Foolish.  - Steve Jobs

         
  • Posted: 18 May 2010 05:55 PM #37

    Mace - 18 May 2010 07:39 PM

    Eric Landstrom,

    As a Dow Theory practitioner, what do you think about the article below:

    Sell Everything Liquid.  And join the gold rush.


    mbeauch,

    Did you cover your written calls as suggested by danthemason?  I plan to let the written calls (May $260) expire worthless.  And then write Jun calls next week.

    I can’t find the link but another gold newsletter was telling everyone to get out of it today.
    Anyone see this?

         
  • Posted: 18 May 2010 07:20 PM #38

    Mercel - 18 May 2010 08:55 PM

    I can’t find the link but another gold newsletter was telling everyone to get out of it today.
    Anyone see this?

    That would be The Gartman Letter by Dennis Gartman, “The Commodities King”.

    Helping to send the gold price lower was a call from Dennis Gartman, of the Gartman Letter, to ?rush to the exits? on long gold positions. The influential market commentator noted the frenzied rise in the euro-denominated gold price, stating ?this trade has gone parabolic and hit the obscene number yesterday at EUR 1000. Having done so, and with the public now heavily involved, we want out and are headed for the sidelines.?

         
  • Posted: 18 May 2010 07:57 PM #39

    Thanks Pete, we need all the help we can get.

         
  • Posted: 19 May 2010 01:16 AM #40

    Wednesday

    R4         278.59
      midpoint   274.45
    R3       270.30
      midpoint   266.16
    R2       262.01
      midpoint   259.60
    R1       257.19
      midpoint   255.46
    PP       253.72
      midpoint   251.31
    S1       248.90
      midpoint   247.17
    S2       245.43
      midpoint   241.29
    S3       237.14
      midpoint   233.00
    S4       228.85

         
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    Posted: 19 May 2010 03:57 AM #41

    Mace - 18 May 2010 07:39 PM

    Eric Landstrom,

    As a Dow Theory practitioner, what do you think about the article below:

    Sell Everything Liquid.  And join the gold rush.


    mbeauch,

    Did you cover your written calls as suggested by danthemason?  I plan to let the written calls (May $260) expire worthless.  And then write Jun calls next week.

    As soon as two of my business owning neighbors explained to me how the health care bill effects their bottom line, I became bearish. One neighbor is letting several employees go to off-set the additional costs and the other is setting aside an expansion plan because, sadly, he pays his employees a living wage but because less than half of his employees would like a heath plan, by law he cannot offer a health plan and because his payroll is over $300K, he is being penalized $7500 per year per employee beginning July 1st this year. The health plan is really messing up small business owners.

    Add into this the looming leg down in RE prices, the on-going contraction in money supply, the overhead with the unresolved GSE problem, and golly, the sovereign debt problem and I began hedging my downside risk, selling against my position to lower my dollar cost average while considering flipping fully evil and shorting everybody. Moreover, while I thought about it, I do not own gold. Since gold can drop out of the sky overnight, my investment thesis is to wait for every Tom, dick and Harry to bid gold up and then I’ll short gold back into the 1990s while waiting for high interest rates to come wherein I’ll move in and buy RE on cheap.

    Signature

    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.

         
  • Posted: 19 May 2010 04:45 AM #42

    exactly my view on gold as well, i saw it happen a couple of times in the past. too much gold is in the hands of the central banks, they can move the market in no time…
    with all the derivatives in gold nowadays this could be (one of) the next bubble(s)

    Signature

    An economist is an expert who will know tomorrow why the things he predicted yesterday didn’t happen today.

         
  • Posted: 19 May 2010 08:07 AM #43

    Guys…markets look scary…...media is yelling doom, doom and ?berdoom…..CNBC is in “Apocalypse-mode” and not a big helper. Situation in Europe, specially Germany looks grim. Oilspil, Thailand and the North Korean torpedo do the rest….. I truly wonder what to do. Thinking of selling. What about you? I know Apple is a bargain but in this environment that doesn’t mean a thing….

         
  • Posted: 19 May 2010 09:36 AM #44

    Thailand protest leaders surrender. Certain businesses in my part of the world are posting record months.  Tax benefits to hire the unemployed and part-timers (worth as much as $7600) are just NOW in effect with the 2nd Quarter filing of payroll taxes. CNBC is a ratings whore—they can scare the retail market, and the big boys could end up buying your shares.

    I’m not blind to the sentiment that can move markets, but the big picture painted by the talking heads isn’t necessarily the reality.  I don’t like the current market, but it could change quickly.  And maybe we could get 1,000 more cuts before it does.  Your guess is as good as mine.

         
  • Posted: 19 May 2010 09:43 AM #45

    Despite all the initial skepticism, PED is reporting today that Apple has captured 72% of Japan’s smart phone market.  See here.