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Post by phoebear611 on May 19, 2014 2:57:44 GMT -8
Good morning peeps,
While you were sleeping... - Everyone in the red including US futures....'nuf said.
Snapshot News on AAPL: - JPM's Rod Hall out with a note with respect to Google and Apple settling smartphone litigation: “Apple and Google have also agreed to work together in some areas of patent reform,” the statement said. The deal does not apply to Apple’s litigation against Samsung. (Reuters) Our View (JPM): While we don’t believe patent litigation is directly affecting valuation for AAPL we do like the idea that the industry could stop incessant litigation which we believe drains valuable management time and energy.
A little of this and a little of that in the news this morning: - Two large deals in the news this morning (completely unrelated to AAPL but can always affect market dynamics or sentiment in general): (1) Astrazeneca rejects Pfizer's sweetened bid and, (2) AT&T acquiring Direct TV for $95 in stock and cash - Beware of rumors or curveballs throughout the day today based on: Bernanke is speaking at a function today and Fischer is speaking at a separate function today as well. - Youtube (Google) to buy Twitch (game-streaming service) for more than $1BN in cash - Variety - FB working on a video chat app (Slingshot) to compete with Snapchat - FT
Economic Calendar this week: - Mon., 5/19: Fed Presidents Fisher and Williams speaking at 12:30 pm - Tues., 5/20: Philly Fed President Plosser speaks at 12:30 pm / NY Fed Pres. Dudley on outlook at 1:00 pm - Weds., 5/21: Yellen gives commencement speach at 11:00 am / Minn. Fed. President Kocherlakota speaks at 1:30 pm / FOMC minutes at 2:00 pm - Thurs., 5/22: Jobless claims at 8:30 am / Market Flash PMI at 9:45 am / Existing Home Sales at 10:00 am / Leading Indicators at 10:00 am - Fri., 5/23: New Home Sales at 10:00 am
We are going into a holiday weekend so heads up on liquidity as we head toward the weekend particularly on Friday - specifically Friday afternoon. Currently, AAPL is $596.02 (-1.49) on only 10,100 shares in PM...was down more earlier - again, on barely any shares.
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Post by podboy on May 19, 2014 5:34:10 GMT -8
Good start!
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Post by rickag on May 19, 2014 5:38:21 GMT -8
So do we break through the $600 calls this week or trade between $590 - $600?
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Post by Red Shirted Ensign on May 19, 2014 5:39:54 GMT -8
I think Friday's close was an indicator that a move above and then holding 600 was imminent.
But....I....know.......nothing!
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Post by podboy on May 19, 2014 5:40:55 GMT -8
doc or anyone? I'm not much into TA, what levels should we look at resistance here? I remember there is not much between 600 and 644.
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Ted
fire starter
Posts: 882
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Post by Ted on May 19, 2014 5:51:00 GMT -8
Wow, nice trajectory this morning! Does somebody know something? Friday and today's moves seem like much more than the divvie effect... Enjoy the day.
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Post by yellowhandman on May 19, 2014 5:58:58 GMT -8
I think the impending split outweighs everything else in the next two weeks. It's simple psychology - who doesn't want 7 of anything for the price of 1?
And yes, I know that mathematically it doesn't make a difference, but human beings are ultimately irrational.
And even if you are a rational human being, if you can afford to buy now, you know that you'll be able to sell some of your multiplied-by-seven shares to other irrational human beings who will suddenly think that AAPL is cheap, post-split.
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Post by nagrani on May 19, 2014 6:03:44 GMT -8
626 or bust
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Post by rob_london on May 19, 2014 6:13:45 GMT -8
doc or anyone? I'm not much into TA, what levels should we look at resistance here? I remember there is not much between 600 and 644. For daily TA commentary on AAPL I recommend Scott Redler. www.t3live.com This morning he commented that 604-ish is a resistance level. If AAPL holds 600 today, he is looking for a push towards 630-ish
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Post by rickag on May 19, 2014 6:37:36 GMT -8
Last week I began paper trading selling calls against shares. Sold calls @ $602.5 for $0.86 expiring this Friday. They are now up to about $6.50.
I like the idea that since I own the shares and selling calls against them can't lose money only opportunity, but … well I am greedy. Need to go back to the drawing board to come up with at better strategy.
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Post by podboy on May 19, 2014 6:52:36 GMT -8
Last week I began paper trading selling calls against shares. Sold calls @ $602.5 for $0.86 expiring this Friday. They are now up to about $6.50. I like the idea that since I own the shares and selling calls against them can't lose money only opportunity, but … well I am greedy. Need to go back to the drawing board to come up with at better strategy. It's a good strategy but don't get greedy. Pick a strike furter OTM like 630 and still collect the premium without risking losing your shares. I do this for my ITM LEAPS and collect a couple hundred bucks every week then buy shares with that money.
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Post by rickag on May 19, 2014 7:38:00 GMT -8
Last week I began paper trading selling calls against shares. Sold calls @ $602.5 for $0.86 expiring this Friday. They are now up to about $6.50. I like the idea that since I own the shares and selling calls against them can't lose money only opportunity, but … well I am greedy. Need to go back to the drawing board to come up with at better strategy. It's a good strategy but don't get greedy. Pick a strike furter OTM like 630 and still collect the premium without risking losing your shares. I do this for my ITM LEAPS and collect a couple hundred bucks every week then buy shares with that money. Thanks for the reply. This was a trial balloon based on the OI calls. AAPL was abiut $587 when I paper traded. I hope they do get called away at this point to see the mechanics involved and then I can assess the damage for future reference when I do trade with real money.
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Post by macwire on May 19, 2014 8:18:56 GMT -8
I see an abcd completing around 625.75 or so
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Post by appledoc on May 19, 2014 8:34:07 GMT -8
Nice day. Could still be part of a retrace even though we're above 604. Won't be buying here.
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Post by phoebear611 on May 19, 2014 8:48:05 GMT -8
Nice day. Could still be part of a retrace even though we're above 604. Won't be buying here. Because it's up too much and you expect it to pull back a bit? If so, to what level? Kindly expand your response, please.
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Post by appledoc on May 19, 2014 9:28:21 GMT -8
Nice day. Could still be part of a retrace even though we're above 604. Won't be buying here. Because it's up too much and you expect it to pull back a bit? If so, to what level? Kindly expand your response, please. I expected a bigger retrace from 604 given the size of the move to get there. That and the giant gap staring at us from below. But I will definitely acknowledge the possibility of this being a parabolic move. I said at the end of April in the EW thread that I thought 600 or 700 would be the next target.
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JDSoCal
Member
Aspiring oligarch
Posts: 4,189
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Post by JDSoCal on May 19, 2014 9:33:09 GMT -8
If we're going to blow past the 600 calls, weeklies is the time to do it, and early in the week before the calls build up. Need to get high enough before the monthly expiry comes up again. Hopefully we can make 600 a put wall by then.
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Post by qualitywte on May 19, 2014 12:12:13 GMT -8
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JDSoCal
Member
Aspiring oligarch
Posts: 4,189
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Post by JDSoCal on May 19, 2014 13:05:22 GMT -8
Kind of a rehash of the 9-5 Mac article, which is really worth reading. And yes, you have to have faith in the Apple PTB's. They can't sit on their asses and keep the status quo forever. But with every change there is risk. Fortune favors the bold!
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JDSoCal
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Aspiring oligarch
Posts: 4,189
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Post by JDSoCal on May 19, 2014 13:50:06 GMT -8
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Mav
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Post by Mav on May 19, 2014 14:19:33 GMT -8
Fortune also favors those who can't _set_ market trends? Can't wait for Samsung's next quarterly report.
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Mav
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Post by Mav on May 19, 2014 16:59:11 GMT -8
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Post by Red Shirted Ensign on May 19, 2014 18:41:21 GMT -8
Everybody's getting so excited about this price action, but mark my words....AAPL will be trading as low as the upper 80's within three or four weeks.
Mark it down and see if I'm not right!
Apple is dooooooomed.
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Post by Red Shirted Ensign on May 19, 2014 19:36:05 GMT -8
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JDSoCal
Member
Aspiring oligarch
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Post by JDSoCal on May 19, 2014 20:53:33 GMT -8
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