Apple Inc (AAPL)

[roni]

At 9:42 Eastern time this morning, according to Fidelity,

I sold 3/4 of my then current Jan 120 calls for 17.90 each -they had been purchased at 13.50. The proceeds just about paid for the ones I have left. Down to 21% AAPL in our IRAs and I don't think I will be going higher than that before the iPhone launch.

I am, however, going longer precious metals. I predict that the price of gold is going to take a little run here- based mostly on the much lower commercial short position reported last week. We'll see. Holding about 30% cash, so I have some ability to move one way or the other :).

Have made a bunch of AAPL calls this year. I think there is more to be made, but I think there will be better opportunities to go way overweight again later this year - maybe within a few weeks - like between the iPhone intro and the July earnings report.