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Post by aaplsauce on Jan 6, 2022 23:32:19 GMT -8
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4aapl
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Posts: 3,867
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Post by 4aapl on Jan 7, 2022 7:25:02 GMT -8
I sold a bit when it was above 80 RSI. Now that it's below 50 RSI, it's a good place to buy back in for a partial position... and really load up the truck if it drops down to 30-35. The quickness of the mini-dip was getting me thinking about if I would buy a little more if there were a 10% drop, especially since I am selling some in a couple weeks due to covered calls. It now doesn't look like a 10% fall will happen this time, instead falling 6% from the very top. I'm sure that is tradable for some. It sounds like Apple will continue to do well. The question is really more about the overall economy and market. Some stocks, especially some smaller ones, are having trouble. But the economy is still doing well, so as long as the market occasionally has some caution but doesn't freak out, the party may/should keep on running. (FWIW, the S&P is currently 3% off it's high, and the nasdaq is 6% off it's high from 1.5 weeks ago, and 8% off it's recent ATH from late November. Kinda just a standard reminder of volatility, knocking down the mood and potential frothiness a little)
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JDSoCal
Member
Aspiring oligarch
Posts: 4,241
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Post by JDSoCal on Jan 7, 2022 10:06:47 GMT -8
Despite all the macro winds blowing, it seems like a normal Friday OpEx day. NASDAQ is down, but AAPL trickling up to kill the 172.50 puts?
Sometimes, pain can help.
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Post by aaplcrazie on Jan 7, 2022 10:57:17 GMT -8
20th Aniversary today of the Introduction of the G4 iMac with the Floating Display 15" Flat screen LCD 700 or 800 MHZ PowerPC G4 processor with a SuperDrive built into the base.
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mark
fire starter
Posts: 1,632
Member is Online
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Post by mark on Jan 7, 2022 12:19:19 GMT -8
I sold a bit when it was above 80 RSI. Now that it's below 50 RSI, it's a good place to buy back in for a partial position... and really load up the truck if it drops down to 30-35. The quickness of the mini-dip was getting me thinking about if I would buy a little more if there were a 10% drop, especially since I am selling some in a couple weeks due to covered calls. It now doesn't look like a 10% fall will happen this time, instead falling 6% from the very top. I'm sure that is tradable for some. It sounds like Apple will continue to do well. The question is really more about the overall economy and market. Some stocks, especially some smaller ones, are having trouble. But the economy is still doing well, so as long as the market occasionally has some caution but doesn't freak out, the party may/should keep on running. (FWIW, the S&P is currently 3% off it's high, and the nasdaq is 6% off it's high from 1.5 weeks ago, and 8% off it's recent ATH from late November. Kinda just a standard reminder of volatility, knocking down the mood and potential frothiness a little) Are you sure you are selling? Unless you sold in, or near in, the money calls recently, if the stock drops a bit more, they may expire unexercised. It all depends. A lot can happen in a few weeks. Like if they are 165 or 170 calls, we could easily pop below that over a couple of weeks. A while back, I had 70 calls (the top of a bull call spread) exercised on me, and I didn't want to take capital gains on 7000 shares at the time, so I simply purchased 7000 new shares and delivered those instead upon exercise.
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4aapl
Moderator
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Post by 4aapl on Jan 7, 2022 14:18:51 GMT -8
The quickness of the mini-dip was getting me thinking about if I would buy a little more if there were a 10% drop, especially since I am selling some in a couple weeks due to covered calls. It now doesn't look like a 10% fall will happen this time, instead falling 6% from the very top. I'm sure that is tradable for some. It sounds like Apple will continue to do well. The question is really more about the overall economy and market. Some stocks, especially some smaller ones, are having trouble. But the economy is still doing well, so as long as the market occasionally has some caution but doesn't freak out, the party may/should keep on running. (FWIW, the S&P is currently 3% off it's high, and the nasdaq is 6% off it's high from 1.5 weeks ago, and 8% off it's recent ATH from late November. Kinda just a standard reminder of volatility, knocking down the mood and potential frothiness a little) Are you sure you are selling? Unless you sold in, or near in, the money calls recently, if the stock drops a bit more, they may expire unexercised. It all depends. A lot can happen in a few weeks. Like if they are 165 or 170 calls, we could easily pop below that over a couple of weeks. A while back, I had 70 calls (the top of a bull call spread) exercised on me, and I didn't want to take capital gains on 7000 shares at the time, so instead I simply purchased 7000 new shares and delivered those instead upon exercise. Yep, I had everything and more sold out in 2014 due to only one side of maybe a 400 call spread being called away. On the plus side, I no longer have to keep those old paper records going back to '98, and I reset the tax basis. But that also means any shares I donate now have a $25 or so basis that has been previously taxed, instead of under a buck. They're Jan 135's, and a sizable amount, roughly 10% of our total. I've bought back more than the shares since writing these, so net from 1.5 years ago when I wrote those, we'll still have more shares post-exercise. Checking, we've bought about double the shares in the last 18 months, at an average price of maybe 122, so while part of it stings a bit, both parts are net positive and overall it's a big win. OTOH, it helps force the hand a little, closing out more than half of our borrowing, when over the coming 2 years I likely want to close it all out. Not quite risk on/risk off, but just being a little less risky, while opening up plenty more buying potential if there is a sizable dip to be opportunistic with. Fun times.
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4aapl
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Post by 4aapl on Jan 7, 2022 14:34:26 GMT -8
The first half of this story really rings of 2000, even if the end of the piece claims the riskiness is just the part that's talked about the most: finance.yahoo.com/news/young-retail-investors-risk-appetite-shows-no-signs-of-being-curbed-170029423.htmlSometime there will be a bubble again. Some things point to it inflating now. The tough part is either figuring out when it will actually happen, or being invested or set financially that you can hold through and it just doesn't matter much. But for those new to investing, there's likely to be some carnage. At some point.
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