AAPL Intraday Updates (Archive)

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    Posted: 12 November 2010 02:35 PM #166

    Mace - 12 November 2010 06:09 PM
    Eric Landstrom - 12 November 2010 05:31 PM

    I just bought a thimble full of AAPL.

    What make you so sure that $300 won’t be tested?

    Because traders always game what is supposed to happen. as a counter-trend guy, I was a little early, but any trade in the money is a good trade.  grin

    Anyway, Ken Heebner must have ready my early MM remarks and said, he’s got me pegged!

    Rumor is that Ken’s CGM fund sold its AAPL position.

    [ Edited: 12 November 2010 02:46 PM by Eric Landstrom ]

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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: 12 November 2010 02:36 PM #167

    JDSoCal - 12 November 2010 06:23 PM
    Mace - 12 November 2010 05:01 PM
    Eric Landstrom - 12 November 2010 04:27 PM

    ... retired .gov types are worried over SS and cuts in pensions ...

    Is it legal to cut SS and pensions of retirees?  Isn’t the disbursements legally binding at the point of retirement.

    Only states are bound by the Contracts Clause. Ironically, that most often applies to the public sector’s employment contracts, when the whole point of it was to protect the private sector from states.

    Rough day. Perhaps some deals out there? Anyone buying calls?

    Jan 2012 bank calls.

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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.

         
  • Posted: 12 November 2010 02:38 PM #168

    Never heard of Kent.  How many shares did they sell and at what price/when?

    Eric Landstrom - 12 November 2010 06:05 PM

    Kent’s fund sold AAPL which is why the dip happened.

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
  • Posted: 12 November 2010 02:46 PM #169

    Ken Heebner

         
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    Posted: 12 November 2010 02:47 PM #170

    Gregg Thurman - 12 November 2010 06:38 PM

    Never heard of Kent.  How many shares did they sell and at what price/when?

    Eric Landstrom - 12 November 2010 06:05 PM

    Kent’s fund sold AAPL which is why the dip happened.

    typo. my bad. Here is the story:

    http://www.reuters.com/article/idUSN1214774720101112

    [ Edited: 12 November 2010 02:50 PM by Eric Landstrom ]

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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: 12 November 2010 03:12 PM #171

    The news for Ken Heebner selling his AAPL position via 13F filling is as of September 13, and he may even may have added since then. Morning Star rates his Fund two stars.

    Just a heads up to those interested in following Mr. Heebner?s tip.

         
  • Posted: 12 November 2010 03:23 PM #172

    JDSoCal - 12 November 2010 06:23 PM
    Mace - 12 November 2010 05:01 PM
    Eric Landstrom - 12 November 2010 04:27 PM

    ... retired .gov types are worried over SS and cuts in pensions ...

    Is it legal to cut SS and pensions of retirees?  Isn’t the disbursements legally binding at the point of retirement.

    Only states are bound by the Contracts Clause. Ironically, that most often applies to the public sector’s employment contracts, when the whole point of it was to protect the private sector from states.

    Rough day. Perhaps some deals out there? Anyone buying calls?

    Bought a bunch of Feb 280 calls at ~$37 when AAPL was heading south from $306. Seemed like a safe bet.

         
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    Posted: 12 November 2010 03:36 PM #173

    Mace - 12 November 2010 06:18 PM

    Technicians and Chartists,

    Please refer to this daily chart.  Notice price ($319-$321.30) is bearishly divergent with indicators.  Also, today is the first time since early Sep that AAPL drops below the 20-day EMA.  What can we say about future price direction?

    Intraday-wise, AAPL breaks above the inverse H&S’s neckline, likely to top up at $$311.

    Intraday inverse H&S completed at $309.80.  Looking for new pattern.

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    Stay Hungry. Stay Foolish.  - Steve Jobs

         
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    Posted: 12 November 2010 03:42 PM #174

    Bought a thimbleful and a half of Calls on the sell of off. April ‘11s.

         
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    Posted: 12 November 2010 03:46 PM #175

    Mace - 12 November 2010 07:36 PM
    Mace - 12 November 2010 06:18 PM

    Technicians and Chartists,

    Please refer to this daily chart.  Notice price ($319-$321.30) is bearishly divergent with indicators.  Also, today is the first time since early Sep that AAPL drops below the 20-day EMA.  What can we say about future price direction?

    Intraday-wise, AAPL breaks above the inverse H&S’s neckline, likely to top up at $$311.

    Intraday inverse H&S completed at $309.80.  Looking for new pattern.

    Good reading. Bearish technical divergences no question about it. And $311 is the technical hurdle.

         
  • Posted: 12 November 2010 03:53 PM #176

    BTC 100 JAN $350 Calls and made $2.00

    Have new order in STO JAN $350 Calls at $6.10.  When this is executed I will hold 100 JAN $280/$350 Call Spreads with a -$1.00 basis.

    JDSoCal - 12 November 2010 06:23 PM

    Rough day. Perhaps some deals out there? Anyone buying calls?

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
  • Posted: 12 November 2010 03:55 PM #177

    If it does you’ll hear a large splash coming from Spokane, WA as I jump in with everything I have.

    Mace - 12 November 2010 06:09 PM
    Eric Landstrom - 12 November 2010 05:31 PM

    I just bought a thimble full of AAPL.

    What make you so sure that $300 won’t be tested?

    Signature

    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
  • Posted: 12 November 2010 03:57 PM #178

    Not a bad buy if you plan on selling mid January.

    Hannibal - 12 November 2010 07:23 PM

    Bought a bunch of Feb 280 calls at ~$37 when AAPL was heading south from $306. Seemed like a safe bet.

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    You can’t do more, make more, be more, than the next guy, if you think like the next guy. Think different.

         
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    Posted: 12 November 2010 04:16 PM #179

    Gregg Thurman - 12 November 2010 07:55 PM

    If it does you’ll hear a large splash coming from Spokane, WA as I jump in with everything I have.

    Your aggression scare me.  Jan $350?  All in?  I bought a couple of calls(Feb $310).

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    Stay Hungry. Stay Foolish.  - Steve Jobs

         
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    Posted: 12 November 2010 04:31 PM #180

    The whole idea of China having this kind of influence on stock and bond prices is somewhat bothersome. China choose to run a dollar peg below market value, US choose to run huge budget deficits. And here we are.

    USDX 78.265 -0.12% and FXE up 0.32%. Not to blame the dollar trade today.

    DJI 11196.05 down -86.28 -0.76%

    SPX 1198 down -1.28. A bit of resistance here.

    VIX 20.36 up 9.17%. A good shake-out of complacency

    AAPL $310.22 down -2% however off of lows. Low $303.63 and high $316.63. Mace is correct about the technicals as at high when it was met with bearish divergences in the relative strength index (RSI), stochastics, the on-balance volume (OBV) and the TRIX. Correctly pointed out also that intraday we would find resistance at $311. Would like to point out however that dip buying is relentless as we are now more than 7 points from lows. Also AAPL does not follow the laws of physics, however would exercise extreme caution when trading it from here.

    What will happen now with AAPL depends on the overall market. The overbought condition of the market is being worked out and dips like today?s offer opportunities to players on the sidelines and shake out weak hands. Still bullish that we will see higher highs in indexes after this is over, maybe very soon.

    Remember POMO 2.0 is cumulative and comes in small and steady doses. The poison effect will take a while to kick in on larger bears. A dose a day will keep bears away…