Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 3:35:35 GMT -8
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 5:26:11 GMT -8
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Post by rickag on Jan 18, 2017 5:58:43 GMT -8
Any Elliot Wave followers have any comments?
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 6:34:07 GMT -8
Weeeeee
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Post by incorrigible on Jan 18, 2017 6:46:24 GMT -8
A "Weeee' on a $0.04 rise? You're easy
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 6:47:31 GMT -8
Perhaps I 'Weeeed' to soon. It hit 120.50 shortly after opening...
*Not a Trump joke.
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Post by tuffett on Jan 18, 2017 6:51:11 GMT -8
How is everyone planning to play earnings if AAPL remains in the $120s and at overbought technical conditions? Hold, sell, covered calls?
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Post by incorrigible on Jan 18, 2017 7:20:11 GMT -8
I'll do what I always do. Hold.
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Post by mace on Jan 18, 2017 8:45:44 GMT -8
The next page says this: The stock closed near the high of the session on Tuesday, but right on the cup and handle price target, which coincidentally is the previously significant $120 resistance level. If there were to be an unexpected reversal in the recent positive price action, it would be in this area.
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Post by mace on Jan 18, 2017 8:46:40 GMT -8
How is everyone planning to play earnings if AAPL remains in the $120s and at overbought technical conditions? Hold, sell, covered calls? Do nothing as usual.
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 8:54:17 GMT -8
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Since84
Moderator
To infinity and beyond!
Posts: 3,933
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Post by Since84 on Jan 18, 2017 8:56:59 GMT -8
Must admit to being happy with AAPL's price action today. Consolidation bodes well.
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Post by dreamRaj on Jan 18, 2017 9:23:37 GMT -8
Apart from 120 being a major resistance for AAPL, the market is in limbo till the inauguration sell-off, or NO sell-off, happens. MarketWatch has been spreading fear about this "sell the (trump) news" for a while now. The way Apple's been inching up/holding in the past few days is impressive. If there's no inauguration sell-off, we have great chances of going higher along with the broader market. 123-124 by ER is my guess/wish
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Post by deasys on Jan 18, 2017 9:43:17 GMT -8
I'm curious about what the board thinks about this comment from John N. Heil: seekingalpha.com/article/4037455-apple-q1-guidance-review-trend-friend#comment-74105399"…a lower number of shares traded can actually represent, in relative terms, a sold out stock. I see characteristics that suggest this in Apple's case, that indeed the weak hands and impatient traders are long gone…(if my educated guess is correct), it could mean some rather dramatic upside action with any semblance of good news."
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bud777
fire starter
Posts: 1,352
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Post by bud777 on Jan 18, 2017 10:02:32 GMT -8
I'm curious about what the board thinks about this comment from John N. Heil: seekingalpha.com/article/4037455-apple-q1-guidance-review-trend-friend#comment-74105399"…a lower number of shares traded can actually represent, in relative terms, a sold out stock. I see characteristics that suggest this in Apple's case, that indeed the weak hands and impatient traders are long gone…(if my educated guess is correct), it could mean some rather dramatic upside action with any semblance of good news."This seems plausible to me. Given the relentless FUD around the iPhone7 and the lack of movement in the stock I agree that most of the players have left. Those who are looking for a quick buck left for Tesla months ago. I still think that there is safe money to be made in LEAPS. I plan to sell Jan 2019 covered calls at 145 and Jan 2019 cash covered puts at 90 before the end of the week. I will be happy if either of these is called away.
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Post by sponge on Jan 18, 2017 10:06:30 GMT -8
My thoughts are that any post inauguration sell off will be short lived and take us down to 117 range.
If we get good guidance then we will see the 130 number.
I am ready to jump in if we drop to 117 and RSI is below 50. Otherwise we could see a repeat of Oct with weak guidance and we revisit the 200 MA around 109.
I am still wondering why here is such a long wait 6 weeks AirPods and 2-3 weeks Apple Nike Watch.
My initial gut says they are having serious component shortages or Apple does not care if they force you to wait. Only only build limited quantities in the mean time.
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Post by mrentropy on Jan 18, 2017 10:26:50 GMT -8
How is everyone planning to play earnings if AAPL remains in the $120s and at overbought technical conditions? Hold, sell, covered calls? I have about half of the block of AAPL Feb 115's I bought last week. I scaled as we hi the 120's. I would like to get down to a 1/4 of what I bought and perhaps hedge that into an earnings hold. I'm thinking to either roll them up to a higher strike price and take profit or sell weekly calls against them. Or both. I have several lots of put spreads I sold over the past few months ranging from Feb 105/115 though some June, July and Fall holdings. I will most likely scale half the Feb spreads in the coming week, hoping to burn a little more time premium out of them as they are deep out of the money now. That's my plan. It does seem like earnings will be good, the question, as always, is guidance.
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Post by incorrigible on Jan 18, 2017 12:05:00 GMT -8
123-124 by ER is my guess/ wish dream FIFY dreamRaj
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Post by mace on Jan 18, 2017 12:06:43 GMT -8
I'm curious about what the board thinks about this comment from John N. Heil: seekingalpha.com/article/4037455-apple-q1-guidance-review-trend-friend#comment-74105399"…a lower number of shares traded can actually represent, in relative terms, a sold out stock. I see characteristics that suggest this in Apple's case, that indeed the weak hands and impatient traders are long gone…(if my educated guess is correct), it could mean some rather dramatic upside action with any semblance of good news."Consolidation with decreasing volume is called volatility squeeze.
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Post by mace on Jan 18, 2017 12:08:27 GMT -8
... I plan to sell Jan 2019 covered calls at 145 and Jan 2019 cash covered puts at 90 before the end of the week. I will be happy if either of these is called away. 2018? 2019 seems a bit far away.
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Post by rickag on Jan 18, 2017 12:48:18 GMT -8
I'm curious about what the board thinks about this comment from John N. Heil: seekingalpha.com/article/4037455-apple-q1-guidance-review-trend-friend#comment-74105399"…a lower number of shares traded can actually represent, in relative terms, a sold out stock. I see characteristics that suggest this in Apple's case, that indeed the weak hands and impatient traders are long gone…(if my educated guess is correct), it could mean some rather dramatic upside action with any semblance of good news."Consolidation with decreasing volume is called volatility squeeze. I looked up a definition for volitily squeeze, me being ignorant and all. Next question is will AAPL breakout up or down? Maybe a straddle or strangle would be a safer bet? Woohoo page 2
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Post by mace on Jan 18, 2017 13:52:31 GMT -8
Suitable expiry dates are Feb 3, Feb 10 and Feb 17. Other dates, volatility is too low to play. If got shares, just sell some covered calls between $125-$130* any time now till earning... to be safe is one day before since it is quite safe to sell Feb 3 calls at strike price = ATM straddle price + trading price of AAPL one day before earning... very rare would AAPL move more than straddle... haven't being so since it becomes so large, after 2008... recall it does before 2008. Edit: I mean strike price between $125-$130 not share price.
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