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Post by CdnPhoto on Jun 20, 2024 4:40:10 GMT -8
AAPL is currently trading at 213.77 -0.52 (-0.24%) RSI is 73.65
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Post by CdnPhoto on Jun 20, 2024 4:41:34 GMT -8
NVDA is currently the largest (by market cap) company in the market.
I suspect this title will be fluid over the summer.
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Post by CdnPhoto on Jun 20, 2024 4:43:20 GMT -8
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Post by socal Film Composer on Jun 20, 2024 5:51:59 GMT -8
great research note above - I agree the AI story will be a driver for upside - it looks like we may have finally broken the $200 ceiling -
there are also many stories about forced rebalancing in big market cap market tracking funds - given NVDA's rise they have to sell some AAPL and buy some more NVDA - that is a temporary but real driver of downward pressure for the next several days of trading.
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4aapl
Moderator
Posts: 3,845
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Post by 4aapl on Jun 20, 2024 7:46:58 GMT -8
there are also many stories about forced rebalancing in big market cap market tracking funds - given NVDA's rise they have to sell some AAPL and buy some more NVDA - that is a temporary but real driver of downward pressure for the next several days of trading. And it’s not a trivial amount. Their aapl holdings drop from around 22% to 5%, selling $12.7B, or one average day of volume. Sounds huge, and it is, but it’s probably spread out all week, and possibly uses options too. Research project if anyone wants something to do. Using open interest, what volume of shares would trade hands at tomorrow’s expiration, assuming 75% do? Visited Monaco yesterday. Some of the yachts were huge. A couple others rivaled ocean liners. And the number of women in a passing tour group that had their SO taking multiple photos of them shows having the highest end camera is still wanted by many. Interestingly, the family in the fanciest getup, not in the group and possibly a sheik, were not taking pics. And just like missing a pic of Air Force One on the tarmac at LAX, the Prince drove by too quickly for me to get a pic, even with his police escort. Aapls rsi below 70 again as things consolidate. Looks like my timing was pretty ideal this time around, but at least touching 240-260 seems likely in the next 12 months, though it might take 27 months for the high end of that.
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Post by CdnPhoto on Jun 20, 2024 10:28:27 GMT -8
I'm seeing a lot of outstanding Calls and Puts at the $210 mark.
I'm thinking we end tomorrow very close to that point.
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Post by duckpins on Jun 20, 2024 11:22:13 GMT -8
Apple is the biggest looser in the Dow by a wide margin. Possibly the odd rebalancing of the tech ETF has created some negative momentum. If so we don't want to give back all of the upside from the break out. Large gap fill at 175-182 or so.
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Post by Luckychoices on Jun 20, 2024 21:31:03 GMT -8
Clearly a bad day for AAPL...down -2.15%. But not exactly a good day for NVDA either...down -3.54%.
Most long-term AAPL investors have been very patient with share price pullbacks...it remains to be seen whether that will hold true for *recent* NVDA investors who have only seen the NVDA share price *increase* with the speculation regarding AI.
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