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Post by gtrplyr on Dec 5, 2012 7:50:33 GMT -8
I can't seem to find anything that would make sense with regards to the drop. Down almost 5% and we are SEARCHING for a story I feel like I'm the only one in the room who didn't get the memo .....
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Post by bernard on Dec 5, 2012 7:51:44 GMT -8
Still whoiunhell is COR? Never heard of them.
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Post by terps530 on Dec 5, 2012 7:54:54 GMT -8
people must have known about this going into the day. yesterday held the 572 after a few tests, and then premarket we were starting way under when everyone else was up. disgusted.
im sure there are tons of people who were 'all aboard' and bought here, or higher in the last week or two, now those options are dead.
just when it looks like we may be out of the water, we get a completely unforeseen margin req. bomb dropped on us. gambling is easier right now...
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Post by wheeles on Dec 5, 2012 7:56:01 GMT -8
There's just no accounting for stuff like this. And of course CNBC are probably talking AAPL down now.
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Post by nkmho on Dec 5, 2012 7:56:27 GMT -8
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Post by bernard on Dec 5, 2012 7:58:37 GMT -8
This on Bloomberg: "Apple dropped 4 percent to $552.68. The company’s market share in the global tablet market will slip to less than half by 2016 from 56.3 percent in 2011 amid increased competition, according to IDC. Microsoft Corp., which introduced the Surface tablet earlier this year, will command more than 10 percent of the global market by 2016 with its Windows operating system, IDC said."
Sh.. that a 5% decrease in 5 years. With a growing market so the gross figures are going to increase. Screwed by skewed news!!!!
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Post by wheeles on Dec 5, 2012 8:01:44 GMT -8
Steve Jobs' death had less impact than this.
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mark
fire starter
Posts: 1,552
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Post by mark on Dec 5, 2012 8:03:34 GMT -8
Retail investors - the ones that are left at least) have been ultra-aware of the market since the 2008 crash. A little too aware. They are dissecting every move and trading off of fear and greed. Retail investors don't trade >15M shares (~$8.5B) in an hour and a half. This isn't retail, it's institutional.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,182
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Post by JDSoCal on Dec 5, 2012 8:05:07 GMT -8
This on Bloomberg: "Apple dropped 4 percent to $552.68. The company’s market share in the global tablet market will slip to less than half by 2016 from 56.3 percent in 2011 amid increased competition, according to IDC. Microsoft Corp., which introduced the Surface tablet earlier this year, will command more than 10 percent of the global market by 2016 with its Windows operating system, IDC said." OMG, what bullshit. Microsoft could only hurt Apple if Jony Ive slipped on a Surface someone had discarded and broke his neck. As far as this margin nonsense, is that really worth eating all those puts, market makers?
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Post by appledoc on Dec 5, 2012 8:06:02 GMT -8
Who wants to play guess the close? I need to have a little fun.
I'm saying 562.
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Post by fas550 on Dec 5, 2012 8:08:11 GMT -8
COR clearing came out and issued a public statement saying that they are raising margin requirements for AAPL from 30% to 60% due to concentration and that they will be putting another statement out later (Mary Thompson CNBC) She also said that MS, JPM, GS, and others said that THEY WILL NOT be following suit. Anyone care to explain concentration/high concentration? Is that in terms of their own account holders therefore you could say the firm is at risk based on how much they have loaned. As opposed to concentration of options (contracts/dates/interest) in general for the stock as a whole? or do I just have this totally wrong.
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Post by wheeles on Dec 5, 2012 8:09:56 GMT -8
Who wants to play guess the close? I need to have a little fun. I'm saying 562. I'm going to make a hilarious swing for the fences of 585.
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Post by fas550 on Dec 5, 2012 8:10:11 GMT -8
iPad. Care to share what Avi is saying? I've been tracking since you last posted and he's been mostly right than wrong since then.
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Post by Apple II+ on Dec 5, 2012 8:11:36 GMT -8
With the COR clearing margin change, are the margin calls coming today or tomorrow?
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Post by phoebear611 on Dec 5, 2012 8:12:17 GMT -8
COR clearing came out and issued a public statement saying that they are raising margin requirements for AAPL from 30% to 60% due to concentration and that they will be putting another statement out later (Mary Thompson CNBC) She also said that MS, JPM, GS, and others said that THEY WILL NOT be following suit. Anyone care to explain concentration/high concentration? Is that in terms of their own account holders therefore you could say the firm is at risk based on how much they have loaned. As opposed to concentration of options (contracts/dates/interest) in general for the stock as a whole? or do I just have this totally wrong. I believe you are spot on - it's a cya - they probably have too much exposure to people with margin positions in AAPL But who the hell is COR Clearing -- need to look it up Here it is: www.corclearing.com/about/who-we-serve
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Post by wheeles on Dec 5, 2012 8:16:36 GMT -8
For what it's worth, this move down has resulted in AAPL touching both its lower daily STARC band and weekly lower acceleration band. Now I am even more certain that we will see the weekly middle Bollinger, possibly as early as next week thanks to this pulling back on the catapult.
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Post by Apple II+ on Dec 5, 2012 8:17:31 GMT -8
Did some googling. COR acquired Legent and Apex. Apex used to be Penson. I know ThinkOrSwim used to use Penson, but switched to Ameritrade in-house clearing.
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Post by lance on Dec 5, 2012 8:21:10 GMT -8
I guess I owe shares in LULU, FB or ZAGG because these price swings can't be happening to a company with a low beta large market cap with extremely strong fundamentals like apple. Oh wait they can and it has been happening all 2012. I don't get why, but for some reason the daily swings seem much larger this year.
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Post by capablanca on Dec 5, 2012 8:21:10 GMT -8
I have not had CNBC on at all today (pats self on back). But their hit piece on Fast Money yesterday was the most vicious that I can recall. All five panelists scored points multiple times; then some clown on the "options desk" spiked the ball.
CNBC is now owned by an Apple competitor: Comcast. Too bad disclosure rules don't require that to be admitted after each touchdown.
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Post by phoebear611 on Dec 5, 2012 8:24:18 GMT -8
Business Insider - otherwise known as "The Rag" - has tweeted 3 times already today about the days old Eddy Cue selling $8.8mln worth of stock...as if it is breaking news....as if he personally gave the directive...as if they know ANYTHING about the sale...but they are pumping the stream. I wish I could say where is the SEC but they are useless so I guess in this age of technology it is legal and just fine to post whatever you wish - esp. if you can make money off it. Nice country.
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Post by sponge on Dec 5, 2012 8:24:35 GMT -8
Someone with big balls bought $392K worth of Jan 14 1000s.
If aapl hits $1100 by end of Nov 2013 they make a cool $9.6 million.
If that is not bullish about long term prospects for our company I don't know what is.
Just a reminder that at this time last year we were trading in the $380 range.
5 months later we were trading at 640.
I don't expect a similar run up of 75% but even 50% from here looks very good.
Just hang in there. We will be fine.
Buy and Hold
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Post by bribery on Dec 5, 2012 8:29:50 GMT -8
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Deleted
Deleted Member
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Post by Deleted on Dec 5, 2012 8:30:09 GMT -8
I imagine that Andy Zaky isn't liking this too much either. Anyone hear anything from him?
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Post by terps530 on Dec 5, 2012 8:30:38 GMT -8
man it must feel so good to nail a bottom. im always way too early. this time i set it lower than my original thought of bottom, and i still missed by a lot- granted this was a bit of a surprise. one day i'll get it... hope your target is right doc. really hope your target is right bird haha
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Post by bernard on Dec 5, 2012 8:36:12 GMT -8
The last time - June 4 - don't ask me how I remember - we reached 547 - we closed at 562. I'm hoping history duplicates itself and voting for a 562 close.
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mark
fire starter
Posts: 1,552
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Post by mark on Dec 5, 2012 8:36:24 GMT -8
Someone with big balls bought $392K worth of Jan 14 1000s. If aapl hits $1100 by end of Nov 2013 they make a cool $9.6 million. If that is not bullish about long term prospects for our company I don't know what is. Just a reminder that at this time last year we were trading in the $380 range. 5 months later we were trading at 640. I don't expect a similar run up of 75% but even 50% from here looks very good. Just hang in there. We will be fine. Buy and Hold Looks like a 900/1000 Jan '14 BCS to me. Also *VERY* bullish. Turns ~$4.50 into $100 if it succeeds.
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Post by Rupert on Dec 5, 2012 8:49:18 GMT -8
Someone with big balls bought $392K worth of Jan 14 1000s. If aapl hits $1100 by end of Nov 2013 they make a cool $9.6 million. If that is not bullish about long term prospects for our company I don't know what is. Just a reminder that at this time last year we were trading in the $380 range. 5 months later we were trading at 640. I don't expect a similar run up of 75% but even 50% from here looks very good. Just hang in there. We will be fine. Buy and Hold Looks like a 900/1000 Jan '14 BCS to me. Also *VERY* bullish. Turns ~$4.50 into $100 if it succeeds. 500k bet, wonder if it's one of AZ's subs.
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Post by bernard on Dec 5, 2012 8:50:00 GMT -8
Update 2: Laurence Balter, principal with Oracle Investment Research, who this morning raised his rating on Apple to Strong Buy, tells ... in a brief email communication that, indeed, he believes the swoon this morning is a consequence of greater margin requirements by some firms as a consequence of the rogue trader at Rochdale Securities back in October.
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Post by dougal on Dec 5, 2012 8:51:38 GMT -8
Who wants to play guess the close? I need to have a little fun. I'm saying 562. I'm going to make a hilarious swing for the fences of 585. Do you have fences on cricket pitches or are you just showing off your familiarity with the American vernacular?
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Post by tuffett on Dec 5, 2012 8:57:20 GMT -8
All this talk and excitement about $1000 by Jan 2014 makes it less and less likely, IMO. The big pop will be suppressed until later. My WAG is a high of high $700s/low $800s in 2013.
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