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Indeed, hope to see the buying excitement continue through the split...
Yeah, it's been a good ride. You typically see this type of action with stocks that people are starting to fall in love with or falling out of love with a stock. There was a time where charts indicated that AAPL should head north, way over sold, but the price kept dropping. Seems to be the opposite right now...
The "record date" means virtually nothing to the stockholder. If you bought the stock before the split, your shares will split the same day everyone else's do, regardless of the record date.
I was just about to post the same thing... lots of people labeled this as boring and uneventful, but do not realize what this event was for...
Not bad... my 15x700 Jan 2015 calls are still up 117.27% from when I picked them uup a couple of weeks ago. I briefly saw 145% near the high today. Holding through the split.
Well said!
Definately peaking my interests... I am eyeing some cheap 600 put options to hedge my long position, but I want to hold off a couple more days to get a better strike price for the same cost.
Closing just shy of the 52-week high and the high of day... wow.
Like I have said before, I am not going to miss out on what can possibly be the biggest run this year.
Always hedge your bets.
Similar to the "double top" pattern we saw on 5/20 @604ish, yet it was a start to a 15 point gain...
The smarter thing to do is to hedge your position. If you feel that AAPL will drop and you position yourself accordingly, hedge your position with calls. Otherwise, position for the upside and hedge yourself with puts, for downside protection.
That's a bit aggressive, but I do like the direction it's heading.
------------
Be smart; hedge your bets.
All I have to say is wow.
Excited! I am positioned for a good rally, however I will hedge my bet with some cheap short-term puts next week just in case...
Is there a chance that AAPL will trade lower from today's closing price? Sure. $10-$15 lower? Perhaps. However, I will not miss out on what can possibly be a craziest rally this year, defying charts and gravity, as we head into and after the split. Too many upcoming catalysts out there...
Always do a quantitative and qualitative review; Hedge your bets.
AAPL could not seem to stay under 605 these last few hours...!
Like anything, it's all speculation. Sometimes we're right, sometimes we're wrong.
True, but not any different than an opinion from a person with an interested position (long or short).
Technical Analyst Sees Apple Headed to $700 -- WSJ Blog
(Another Opinion)
By Tomi Kilgore
Apple Inc.'s breakout above $600 a share has piqued the interest of bullish chart watchers, with Oppenheimer's head technician Ari Wald suggesting a return to record highs -- about 16% above current levels -- may be on the horizon.
The stock yesterday closed at $604.59, its highest level since October 2012. Shares were up again slightly in morning trading Tuesday, to $604.78. The stock has now gained about 15% since Apple reported fiscal second-quarter results about announced an unusual 7-for-1 stock split on April 23.
Apple's rise above resistance at $600 -- the stock had peaked briefly around that level earlier this month -- leaves the path pretty clear from a technical-analysis standpoint until the next resistance at the $650 pivot level, Mr. Wald said. That price, about 7.5% above current levels, acted as both strong resistance and key support from April through September of 2012.
That was before the stock's drop below $650 in October 2012 helped kick off a bear market in the shares that took Apple down as much as 44% to its April 2013 closing low of $390.53.
Above $650, the next key chart point to watch is the Sept. 19, 2012 record closing high of $702.10, Mr. Wald said, which is 16% above current levels.
"I'm playing for a test of its all-time high around $700," Mr. Wald said. "Once you get to new highs, you reevaluate."
Mr. Wald's conclusions are derived from technical analysis, which uses patterns in stock-price charts to help illustrate market sentiment and make investment decisions. It differs from "fundamental" analysis, which looks at the economics and finances of industries and companies.
While there is a risk of a pullback after such a strong gain in just 3 1/2 weeks, chart watchers also fret when there are no dips that would allow new buyers to step in.
Mr. Wald said a drop to support around $575, or about 5% below current levels, is possible without damaging the bullish short-term outlook.
But the last pullback, following the first test of $600 earlier this month, lasted only four sessions and shaved off just 2.6%.
"The trend is rising," Mr. Wald said. "If you're not in [Apple] already, I believe you need a position in it."
Mr. Wald noted that both tech stocks and large-cap stocks are among the most technically strong sectors of the market at the moment.
"I like tech, and I like big caps, and Apple fits both those roles perfectly," Mr. Wald said.
Nothing wrong in hedging your bets with puts, but what you're suggesting is the complete opposite extreme. To get to the mid 70s, let's say $75, the PPS would need to drop ~13.5%, to $525 from the current price. Others are suggesting that this will break a $100, or $700 from the current price (up ~16%). Both are quite extreme. IMO, I believe this will head north post split, especially with positive catalysts on the horizon.
I have seen a lot of nay sayers from back when this was trading around $480 and now, some $120 later, I continue to see the same nay sayers with the same stories.
As with any investmnt, do your own due diligence and make your own decisions; Hedge your bets!
"AAPL being added to DOW"
Image that headline shortly after the 7:1 split...
Right now, AAPL is too expensive to be listed on the DOW (since it's weighted), but that's a different story after the split...
...one more thing.
Tomorrow will be a good day.
Impressive. Young talent and working options already. I like that he is bullish on APPL.
Agreed, profit taking through the end of this week -- we haven't seen this level in a while so investors are securing their gains.
I am hoping for a nice early morning gap above (or close to) 130 to sell Nov 22 calls, then a nice drop to the low 120s (if not lower), to get rid of my Nov 29 puts -- but hey, that would be in an ideal world, for me. =)
The big moves will most likely happen on a Monday or Tuesday, after weeklies expire. IMO.
Eventually, we all exit our positions, which is how we realize our gains. Icahn will eventually exit from part if not his entire position once he gets to a certain strike price. I assume you're speculating that he's currently selling off his shares. Had he tweeted his intent, it would have been news across many outlets (I.e. marketwatch, nbc, forbes, routers, etc..); that is not the case and contrary to what he stated -- an increased position.
RE: Bearish Engulfing Candlestick Forming On Daily Chart
Appears that the charts are broken... Don't get me wrong, they are good indicators for a predictable stock; Apple is not a predictable or rational stock. Trading Apple solely on charts is unwise.
Congrats! Yea, I am up $3.5K from yesterday (made up for a $2K loss). Remind me never to buy weekly put options to hedge my position. I will have to shell out a premium from now on to hedge my position.
There is no reason for AAPL to head south any further than it did today.
Interesting perspective...
"Big investors wanted to punish AAPL today -- so they sold off. They cannot be mad at their child for doing better than they expected, but short of what they really wanted. All is forgiven soon and they will reward their child with a cookie."
Apple earnings expected to bounce back
Good read...
http://www.marketwatch.com/story/apple-earnings-expected-to-bounce-back-2013-10-29?link=MW_home_latest_news
RE: Bearish Engulfing Candlestick Forming On Daily Chart
I have to disagree with the chartists on this one... Take a look at the chart you posted, specifically October 8, 2013. APPL had more than a 10% run and positive in 10 of the next 12 trading days following that October 8th "bearish engulfing candlestick."
Fundamentally, Apple is a solid value company. All we are seeing now are shares changing hands from the growth investors to those that see value in a very inexpensive stock. IMO.
Thanks! It appears that the market panicked when they heard margins were at 37% and sold off, but when it was discovered that Apple actually recalculated its margins on revenue deferrals due to the cost of giving away its software with every new device, the margins were at 38-39%, hence the rally back up to where we are now.
Wow, I stepped away for an hour to come back to almost positive territory. What was said on the conference call that triggered a positive reaction?
Good luck to all!
China Mobile Announcement
Imminent?
The official (non-US) China Mobile site (http://10086.cn) has just put up a "4G Coming Soon. 11.9 - 11.11, Please Check Back." banner. Once you get to the page, pick Beijing from their list of provinces (the one on the top left) and you'll see the banner on top and a rotating banner in the middle.
Some are speculating that the reason Apple pushed the earnings call out a week was because they needed to confirm the actual 4G launch dates at China Mobile. Forward guidance on what we hope is a China Mobile deal announcement this coming earnings call should send this 10%+ AH on Monday.
Exciting times!
What's with the pop today?
Sorry, haven't really been paying much attention to FNMA, but curious to why its up ~19% today.
The initial drop right before 11:00A had to be due to something else... Take a look at TSLA, GOOG and GS (Goldman Sachs). Now the second sell off, was probably due to profit taking, "nervous" hands from the earlier sell off or just "sell on news". Eventually, people realized that today's line up positions AAPL for a great Holiday season. IMO.