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Post by terps530 on Oct 19, 2012 11:19:15 GMT -8
is 615 now a resistance? vomit
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Post by rutgersguy92 on Oct 19, 2012 11:19:41 GMT -8
Nate, if you did sell at the peak awhile ago, what would you be doing with a bunch of your cash TODAY? Buying perhaps? Try not to sell on a day you would buy if you were all cash! If I had cash I would be buying. This drop is really hurting though. Shut down the monitor and take a walk. And read this article, it worked for me: nanseninvestments.com/2012/10/11/apple-is-going-to-be-great-let-the-fear-go/
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Mav
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Post by Mav on Oct 19, 2012 11:21:30 GMT -8
This is only one day's trading. It won't make or break a portfolio (er, ideally).
There's opportunity here, somewhere. That's my mindset anyway.
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icam
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Post by icam on Oct 19, 2012 11:23:47 GMT -8
Andy Zaky Bullish Cross tweet 42 minutes ago: Bullish Cross @bullishcross Apple is now sitting at the low end of our buy range. At $615 a share, Apple is now sitting at a 2-times a year opportunity.
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Mav
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Post by Mav on Oct 19, 2012 11:24:53 GMT -8
Could still go lower, of course, one never knows.
Too bad Mercel isn't here to provide a coiled spring pic...
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Post by Apple II+ on Oct 19, 2012 11:27:04 GMT -8
If IV were down below 20, this would be one of those times to load up on OTM calls. But it's not, so it's not, IMO. That said, anybody buying OTM calls?
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icam
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Post by icam on Oct 19, 2012 11:27:08 GMT -8
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Post by magictrackpad on Oct 19, 2012 11:28:14 GMT -8
Could still go lower, of course, one never knows. Too bad Mercel isn't here to provide a coiled spring pic... I'm not Mercel, but it would be nice to see this next week.
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Post by fas550 on Oct 19, 2012 11:28:15 GMT -8
Great article and great timing. Now I'm going to have Spritz Aperol with Prosecco and probably watch, "Who the eff did I marry" so I can feel better about myself.
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Post by rutgersguy92 on Oct 19, 2012 11:28:55 GMT -8
here is a question- how quickly will I slam shots at happy hour after work in order to forget about this nonsense? Feel free to start the week-end thread, if that helps.
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Post by fas550 on Oct 19, 2012 11:31:51 GMT -8
If IV were down below 20, this would be one of those times to load up on OTM calls. But it's not, so it's not, IMO. That said, anybody buying OTM calls? I am buying OTM BCS if that counts. I was thinking about the Jan 14 800s for about 37 but decided to stay with the Apr 13 690/715 BCS. Doing a fabulous job lowering my average cost; dammit.
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Post by wheeles on Oct 19, 2012 11:34:06 GMT -8
I'm going to take a Sponge-esque punt on an upside target of 636 for today or Monday. Fire up the jets, good buddies. Well this doesn't look like it's going to happen in the last 30 minutes. Still, fingers crossed for Monday that we can make some serious headway. Looks like AAPL is currently grubbing around for the daily lower Bollinger.
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Post by Apple II+ on Oct 19, 2012 11:34:29 GMT -8
Yeah, I'd stick with spreads too.
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Post by rutgersguy92 on Oct 19, 2012 11:38:32 GMT -8
Is this what capitulation looks like?
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Post by terps530 on Oct 19, 2012 11:38:54 GMT -8
if someone told me one month ago at 700 that an OCT 605/615 bull put spread was going to lose...
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Post by Apple II+ on Oct 19, 2012 11:41:02 GMT -8
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Post by magictrackpad on Oct 19, 2012 11:42:03 GMT -8
I find it quite ironic that AAPL is down 3.40 % for the day, while GOOG is only down around 2 %.
You'd almost think that it was Apple that delivered a catastrophic earnings result recently. I do admit though, that I am a bit confused by the recent drop in AAPL, as a lot of exciting things will be happening next week, including the iPad Mini reveal, plus new Mac refreshes and also the earnings report. And Verizon stated that they sold more iPhones than were expected.
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CdnPhoto
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Post by CdnPhoto on Oct 19, 2012 11:42:19 GMT -8
except, now AAPL is being splattered with it more than the others. AAPL down more than MSFT and it was MSFT that had bad earnings.
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Post by rickag on Oct 19, 2012 11:42:29 GMT -8
Trying to catch a falling knife is hazardous to your health and yes it was very painful. Attachments:
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Post by fas550 on Oct 19, 2012 11:42:35 GMT -8
Ah we are down over 3%, about the same as MSFT, Goog is down 2.5% and they missed earnings (plus Larry sounded like someone out of the movie Saw). Ah yes makes perfect sense. Oh and as I look out of my window cats and dogs are mating; together. Ah yes the world is at perfect balance
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CdnPhoto
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Post by CdnPhoto on Oct 19, 2012 11:44:57 GMT -8
Ah we are down over 3%, about the same as MSFT, Goog is down 2.5% and they missed earnings (plus Larry sounded like someone out of the movie Saw). Ah yes makes perfect sense. Oh and as I look out of my window cats and dogs are mating; together. Ah yes the world is at perfect balance GOOG took a big hit yesterday during regular trading after the accidental release of the earnings.
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Post by fas550 on Oct 19, 2012 11:45:08 GMT -8
Is this what capitulation looks like? Almost. CNBC has to dust off whathisname who will claim Apple is done because it's way overvalued at these levels and some kid in China didn't show up at Foxconn this AM to put iPhones together. Then we have capitulation.
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Post by Apple II+ on Oct 19, 2012 11:45:10 GMT -8
if someone told me one month ago at 700 that an OCT 605/615 bull put spread was going to lose... You still can roll it to Nov for a nice credit. Just sayin
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Post by Big Al on Oct 19, 2012 11:46:12 GMT -8
200-day, we are coming...
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Post by nathanstevens on Oct 19, 2012 11:47:43 GMT -8
Podboy, We're on the same page. I'm rolling profits from DITM Jan13 LEAPS into April and later near the money BCS spreads. Seriously considering selling some common to do the same thing as we are getting pretty close to 5x cash now.
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4aapl
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Post by 4aapl on Oct 19, 2012 11:47:48 GMT -8
Sold!
Out of my 3 Oct bull call spread positions, 570-620, 590-630, 600-630. Selling on a day like this, it's hard to remember I still made money. Shoulda sold before. Instead I started getting out at 618, and just sold the last when it was fighting back up to just over 614.
Looks like overall they made 57%, whereas two days ago it looked like they were going to max out with a gain of 123%.
Blah!
But I've come up with a coping mechanism. I'm making a decent percent of my former job, so if I say took all of the negative feeling from a job over a 1 month or 3 month period (not that it was that bad, but little things like being forced into working the weekend for free, or a coworker not treating you well or something), and then jam them all into one 6.5 hour session, or two sessions, it all comes out the same.
BTW, I'm going ahead and buying back in with half the net capital. I picked up some Feb 605-625 BCS's for 9.95, and now am ready to shop a tiny bit more. I'll have the rest on the sidelines in case next week remains nasty, but I'm thinking a quick dip monday and then some recovery unless other big companies continue with more bad reports. With that mindset I'd probably go in more, but I bought a lot last week....more than what I sold today....so net for the last 2 weeks I'm in more than I was.
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Post by mbeauch on Oct 19, 2012 11:48:27 GMT -8
Market showing life, yet AAPL continues its free fall
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Post by Apple II+ on Oct 19, 2012 11:51:09 GMT -8
I find it quite ironic that AAPL is down 3.40 % for the day, while GOOG is only down around 2 %. You'd almost think that it was Apple that delivered a catastrophic earnings result recently. I do admit though, that I am a bit confused by the recent drop in AAPL, as a lot of exciting things will be happening next week, including the iPad Mini reveal, plus new Mac refreshes and also the earnings report. And Verizon stated that they sold more iPhones than were expected. In sell the fear vs. sell the news, fear trumps.
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Post by fas550 on Oct 19, 2012 11:51:32 GMT -8
Sold! Out of my 3 Oct bull call spread positions, 570-620, 590-630, 600-630. Selling on a day like this, it's hard to remember I still made money. Shoulda sold before. Instead I started getting out at 618, and just sold the last when it was fighting back up to just over 614. Looks like overall they made 57%, whereas two days ago it looked like they were going to max out with a gain of 123%. Blah! But I've come up with a coping mechanism. I'm making a decent percent of my former job, so if I say took all of the negative feeling from a job over a 1 month or 3 month period (not that it was that bad, but little things like being forced into working the weekend for free, or a coworker not treating you well or something), and then jam them all into one 6.5 hour session, or two sessions, it all comes out the same. BTW, I'm going ahead and buying back in with half the net capital. I picked up some Feb 605-625 BCS's for 9.95, and now am ready to shop a tiny bit more. I'll have the rest on the sidelines in case next week remains nasty, but I'm thinking a quick dip monday and then some recovery unless other big companies continue with more bad reports. With that mindset I'd probably go in more, but I bought a lot last week....more than what I sold today....so net for the last 2 weeks I'm in more than I was. Good for you. If you were my broker and made 57% I would have been well happy and wouldn't have fired his ass.
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Post by mtjs on Oct 19, 2012 11:51:44 GMT -8
Load up! The world is about to end.
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