Weekend Updates - Archive

  • Posted: 04 August 2012 10:09 PM #31

    Rosie - 04 August 2012 10:24 PM

    ...this has been the week for stupid…

    Maybe it’s the phase of the moon. Since 7/25 I’d had a streak of very short-term (0-2 day) trades that all secured a decent profit, and was holding a smallish downside hedge of Aug puts against the possibility of the typical big decline right about now.

    Then Friday, at 615, looking at the possibility of a gap-up on Monday to or past 620, I discovered that I was grossly over-allocated (6x my intent) on those puts in a small IRA because I had placed an order in the wrong fricking account.

    In the other accounts, I’m just holding them as hedge positions, and if they become worthless that just means I made good money in the long positions. (Or that AAPL price suddenly stabilized and lost nearly all volatility—hahaha.)  In that account, I had to sell them right then at a 50% loss in order to avoid the possibility of them being wiped out and not recovering before 8/17.

    Ugh. Seriously. Last week was not the week to go 60% short on AAPL in an account, and of course, I did not intend to do that.

         
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    Posted: 04 August 2012 10:25 PM #32

    afterglow - 04 August 2012 11:58 PM

    Rumor right now, but could be another piece to Passbook in iOS 6.


    Apple is in talks to acquire The Fancy, a fast-growing social commerce site backed by cofounders of Twitter and Facebook, Business Insider has learned.
    The objective: to secure a role for Apple in the growing e-commerce market, putting the 400 million-plus users with credit cards on file with Apple’s iTunes Store to work shopping?with Apple getting a cut of the action.


    I couldn’t paste the link…..blacklisted Business Insider

    Source aside (Blodget BusinessInsider blah), recall Reminders/geofences.  Being a little confused why you need Reminders when there’s Calendar.  Then along comes Siri to significantly change the complexion of the iOS 5 baseline functionality.

    There may be similar hidden hooks in iOS 6 for the new iPhone.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Posted: 04 August 2012 10:36 PM #33

    Pretty cool site, The Fancy.  Check it out.  I like this rumor.

    http://www.thefancy.com

         
  • Posted: 04 August 2012 11:05 PM #34

    Mercel - 05 August 2012 01:36 AM

    Pretty cool site, The Fancy.  Check it out.  I like this rumor.

    http://www.thefancy.com

    I’ve been on it for more than an hour now. I don’t do Pintrest, but I like this. Will definitely have me spending money.

         
  • Posted: 05 August 2012 02:41 PM #35

    Sunday, August 5, 4:39 AM Greece’s government will be able to access an extra ?4B of financing after the ECB acceded to a Bank of Greece request to increase to ?7B from ?3B the amount of T-Bills that the latter can accept as collateral for emergency liquidity assistance, Die Welt reported . The money should tide Greece over until the Troika decides on whether to disburse its next tranche of aid in September.
    Is this enough to move markets ?

         
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    Posted: 05 August 2012 03:15 PM #36

    http://www.macrumors.com/2012/08/05/apple-support-allowed-hacker-access-to-reporters-icloud-account/

    If true, AND the social engineering attack did NOT involve identity theft, steps to take are:

    1) Fire iCloud rep bozo

    2) Fire as many supervisors/higher-ups as necessary that allowed a weaker security policy to exist

    Doubling down on _product security_ is a must in any case.  I’d like the option, for instance, to default force authenticate by visiting an Apple Store in person if I “lost my iCloud password”.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
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    Posted: 05 August 2012 03:30 PM #37

    Mav, you hit a major nail.  Because iCloud is now integral to the true Mountain Lion experience, the Retail Stores are going to have to step up to the plate.

         
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    Posted: 05 August 2012 03:38 PM #38

    I’ll wait and see how this turns out… still sounds fishy to me.

    Mat Honan claims “I know how it was done now. Confirmed with both the hacker and Apple.”

    Confirmed with the hacker? Possibly a set up where the “hacker” was given enough personal info to get past the security questions with the Apple techs.

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  • Posted: 05 August 2012 04:12 PM #39

    Mav - 05 August 2012 06:15 PM

    http://www.macrumors.com/2012/08/05/apple-support-allowed-hacker-access-to-reporters-icloud-account/

    If true, AND the social engineering attack did NOT involve identity theft, steps to take are:

    I’d like the option, for instance, to default force authenticate by visiting an Apple Store in person if I “lost my iCloud password”.

    Not sure if that would help, Mav. I went and held a friend’s hand in the local Apple store for this very thing. No one at the store has the ability to reset passwords and stuff. Effectively they just sat us down in front of a machine and opened a support window while the guy on the other end reset the password. It took a while to do but with very limited personal information they were able to reset the ladies password and let her reactivate her phone / iTunes account.

    Not entirely sure what you can do if the person really forgets everything associated with their account and maybe loses years of purchases from iTunes. For some people their only logging into iTunes comes when they get the iPhone or the iPod or iPad and they may not be all that savvy when it comes to tech.

    This was basically a social engineering hack and while nasty I am not entirely sure what you can do about it without upsetting genuine customers who are locked out of their own devices.

    Oh, BTW, the guy who I code with is spending the afternoon resetting all his passwords. A couple of heads up. Netflix only allows passwords of up to 10 characters (actually between 6-10 characters which seriously reduces the security of the password) - awesome work their Netflix and Hotels dot com won’t allow any special characters in the password.  Might have some others, work is still in progress raspberry

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  • Posted: 05 August 2012 04:49 PM #40

    Banks utilize security questions before granting any access or information about your account.  If it’s good enough for banks, it should be good enough for Apple customers.

         
  • Posted: 05 August 2012 04:50 PM #41

    stevereel - 05 August 2012 06:38 PM

    I’ll wait and see how this turns out… still sounds fishy to me.

    Mat Honan claims “I know how it was done now. Confirmed with both the hacker and Apple.”

    Confirmed with the hacker? Possibly a set up where the “hacker” was given enough personal info to get past the security questions with the Apple techs.

    I’m tempted to call BS. The alternative is that Honan’s security questions were weak and the “hacker” had enough info on him already that his iCloud account is probably the least of his worries.

         
  • Posted: 05 August 2012 05:10 PM #42

    AppleDoc - 05 August 2012 07:50 PM
    stevereel - 05 August 2012 06:38 PM

    I’ll wait and see how this turns out… still sounds fishy to me.

    Mat Honan claims “I know how it was done now. Confirmed with both the hacker and Apple.”

    Confirmed with the hacker? Possibly a set up where the “hacker” was given enough personal info to get past the security questions with the Apple techs.

    I’m tempted to call BS. The alternative is that Honan’s security questions were weak and the “hacker” had enough info on him already that his iCloud account is probably the least of his worries.

    That was my question as well.  The hacker confirmed things?  How?  As the famed coroner Henry Lee said at the OJ trial:  “Something is wrong here….”  :wink:

    It’s a big story that sounds fishy to me as well.  The security questions at banks have improved, asking a series of multiple choice questions on past addresses and installment payment information.

         
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    Posted: 05 August 2012 05:42 PM #43

    Mercel - 05 August 2012 07:49 PM

    Banks utilize security questions before granting any access or information about your account.  If it’s good enough for banks, it should be good enough for Apple customers.

    Yup.

    I bring up the Apple Store option as a customer convenience and a way of adding a couple extra layers of practical security.  Cough up ID, let presumably-trained service reps see if you can social engineer as well in person, on camera, as you can over the phone or some VOIP connection.

    Same as at a bank.  It ain’t perfect, but in-person security protocols seem to be pretty decent and time-tested.

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    The Summer of AAPL is here.  Enjoy it (responsibly) while it lasts.
    AFB Night Owl Team™
    Thanks, Steve.

         
  • Posted: 05 August 2012 06:54 PM #44

    LEAPfrog - 03 August 2012 09:14 PM
    LEAPfrog - 03 August 2012 03:14 PM

    Is there a way to tell if institutional ownership percentage is down due to an increase in retail ownership, or institutions selling off positions?  It’s a 18-19M share difference…..

    To answer my own question

    http://eresearch.fidelity.com/eresearch/evaluate/fundamentals/ownership.jhtml?stockspage=ownership&symbols=aapl

    It appears the institutions have sold off 17.5M shares this quarter. Since the stock price has gone up, it appears retail investors have picked up the slack.  I would thick the institutions would want to be loaded with AAPL prior to the divy ex date.  Those 17.5M unloaded shares represents $46+M in unrealized div’s.  Why wouldn’t they be buying back in next week?  Or is my line of thinking way off??

    Thompson/First Call used to print a daily chart depicting percentage of daily action attributable to institutions and retail.  They now charge for that info, and its expensive.  Wish I could still get it.  Ten years ago, when it was free, i didn’t know what to make of the data.  Now that i do, they want real money for it.

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  • Posted: 05 August 2012 06:58 PM #45

    Mercel - 05 August 2012 08:10 PM

    It’s a big story that sounds fishy to me as well.  The security questions at banks have improved, asking a series of multiple choice questions on past addresses and installment payment information.

    Hes on twit.tv NOW

    http://twit.tv

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