Weekend Updates

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    Posted: 19 August 2012 06:19 PM #151

    Tetrachloride - 19 August 2012 09:16 PM

    Slightly green on the Nikkei over 9100, at 6:15 a.m. Tokyo time.  Its been a while since we’ve seen 9100.  The general trading range for the Nikkei has been 8300-10300.

    Wait…Nikkei futures, right?

    The market “euphoria” makes me a bit nervous…but short-term, I’m respecting the trend.

    Pretty comfortable with the Apr 13 BCS I have, looking at setting up Jan 14 core trades before long (NOT those 790/800s…thankfully, I’ve been able to get rid of all those).

    [ Edited: 19 August 2012 06:22 PM by Mav ]

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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: 19 August 2012 06:23 PM #152

    Gregg Thurman - 19 August 2012 08:34 PM

    Two things: Great movie; stock splits don’t change PE/ISMs, or make stupid people smarter.

    Agreed, great movie.

    And my premise was that, since people are dumb, PEs/ISM’s don’t matter (unless ISM is an acronym for “Incredibly Stupid Morons”). Rather, IMO, most people - including a lot of “experts” - look at absolute share price. How else can you justify GOOG’s PE being twice Apple’s, when Apple makes in a quarter what Google makes in a year? And don’t even get me started on an AMZN or PCLN.

    Ergo, it would be easier to go from 65 to 95 than 650 to 950 in a world of dumb bunnies. “Dur-hur, 95 just doesn’t seem expensive.”

    Never impute your knowledge onto a world full of dumb bunnies.

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    Posted: 19 August 2012 06:32 PM #153

    adamthompson32 - 19 August 2012 07:59 PM
    Mav - 19 August 2012 07:33 PM

    Confirms?

    I didn’t see a confirmation.  I saw something very close to one.

    But as far as trend, nothing suggests AAPL is tapering off anytime soon.  I wanted to see if AAPL would break 647 in the final minutes.  It did and the volume seemed to be there.

    I can confirm the uptrend. My stock account is at all time high. It’s 95% AAPL. AAPL is going up. No chart needed.

    Nicely done! And with AAPL at an ATH, you are not alone. Congrats to all the longs!

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    The only way to be truly satisfied is to do what you believe is great work. And the only way to do great work is to love what you do. — Steve Jobs

         
  • Posted: 19 August 2012 07:00 PM #154

    Why so much attention focused on the Nikkei?  Has the financial universe tilted to Japan without my notice?

    It’s one data point and a relatively tame one at that.

         
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    Posted: 19 August 2012 07:09 PM #155

    At this hour, its one of the only two data points open.  China futures (Hang Seng) is not open yet.

         
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    Posted: 19 August 2012 07:22 PM #156

    Why so much attention over Cl4 looking at a single available data point? LOL

    Actually, Nikkei futures don’t seem to be trading yet per Bloomberg.  But US index futures are.  They’re cautiously green at the open.

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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: 19 August 2012 08:14 PM #157

    lovemyipad - 19 August 2012 07:29 PM

    (...)
    I do get nervous when analysts pile on with their AAPL upgrades AFTER a nice run, but IMHO, unless this is a bull trap, as of this moment, with only the CURRENT data, which of course can change with any new data: the weekly chart confirms that our four-month intermediate-term consolidation phase officially ENDED on Friday, and a new range expansion phase has started.  It should have a higher high and a higher low.  Any guesses as to those high-low levels are just that: guesses.  The important takeaway for the intermediate-term: upwave in an uptrend.  Any short-term downwave or pullback is counter-trend until proven otherwise.

    Follow-up, CORRECTION:

    Weekly MACD-h is NOT yet confirmed.  It’s a smidge away.  A little more “up,” and/or not a whole lot of “down” would do it…

         
  • Posted: 19 August 2012 08:21 PM #158

    Mav - 19 August 2012 08:29 PM
    adamthompson32 - 19 August 2012 07:59 PM
    Mav - 19 August 2012 07:33 PM

    Confirms?

    I didn’t see a confirmation.  I saw something very close to one.

    But as far as trend, nothing suggests AAPL is tapering off anytime soon.  I wanted to see if AAPL would break 647 in the final minutes.  It did and the volume seemed to be there.

    I can confirm the uptrend. My stock account is at all time high. It’s 95% AAPL. AAPL is going up. No chart needed.

    I hereby put AT on ignore!

    Aw crap.

    I’m going to complain to a moderator like so many others here. Ha!

    But seriously, this uptrend is fairly obvious, no?

         
  • Posted: 19 August 2012 08:45 PM #159

    I see a 660 touch tomorrow.

    Question is, whether it remains a touch or stays a hold.

    I’ll say a touch and a 655 close.

         
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    Posted: 19 August 2012 09:00 PM #160

    Pfft, AT, ANYONE could see the uptrend with Friday’s power chart.

    Does it continue near-term is the $64,000 or so question for traders or those with tactical trades.  (We know, we know, you don’t have to keep saying it.)

    Signature

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

         
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    Posted: 19 August 2012 09:07 PM #161

    Mav - 19 August 2012 10:22 PM

    Why so much attention over Cl4 looking at a single available data point? LOL

    Actually, Nikkei futures don’t seem to be trading yet per Bloomberg.  But US index futures are.  They’re cautiously green at the open.

    I use the clock on this page’s proper line, but have I been wrong all this time ?  If the clock changes, I thought trading was active.

    http://www.bloomberg.com/markets/stocks/futures/

         
  • Posted: 20 August 2012 03:22 AM #162

    kloot - 19 August 2012 07:34 PM

    i’m with IB, they don’t auto-close out your spreads, at least that’s what they told me when i asked.  and they only give you 10 minutes after market open the next day to do whatever you have to do (e.g. exercise your long calls).  after that, they reserve the right to liquidate positions (one hopes they would realize to exercise the previously paired long calls, but there’s no guarantee).

    Thanks, Kloot.
    It seems I need to get up early whenever there is a dividend.