My target is ~$180 before we see a slow 27% correction over the next year - just my guess based on weekly peaks and pullbacks.
In the first case, it was exploitation, in the second - deliberate choice. Not that it matters though.
Closed my short-put position (bullish the underlying) today (Tuesday), buying back the $143-strike put expiring this Fryday for 18 cents. Sold the put last Thursday for $1.51. Could have hung in there until expiration for maximum profits but settled for 82% of the maximum credit. The marginal reward for waiting for the put to expire worthless was judged not worth the risk of holding the position another 3 days. The decision to buy it back and take the bulk of the potential profit is prudent considering that there is supply in the background (the supply bar of June 9th), because of which we have to assume that this consolidation will most likely resolve itself to the downside, unless proven otherwise. The proof of "otherwise" does not seem to be making itself evident, as instead there appears to be lack of demand on this latest reaction higher. Daily Sticks:
I don't currently own an iPhone, if I ever do buy a smartphone, rest assured, it will be an AAPL 8 when it arrives.
Please. I remember panic going back 10-15 years. Analysts have been alarmists on Apple forever. It's laughable. "Apple is doomed!"
It won't be a surprise if AAPL jumps $3 in a single day in the next 10 days. I feel the stock price is compressed for some reason.
As I suspected, the axis line at 146 has proved to be resistance...market up, AAPL down on lack of demand the past few days despite Goldman Sucks pleadings to the muppets to stay long and never mind the inherent risks of the upcoming ER. Maybe I'll try another long position in the 142-143 area if the supply shrinks even more down there.
Clearly Goldman Sucks is now in distribution mode; why else would they tell the Muppets to "stay long"? I'm thinking they'll continue to support 142 until they and the lesser wolves and snake oil salesmen are done peddling AAPL stock to the townspeople.
Doomsayers are not entirely wrong actually. Everything eventually ends and so will Apple, theoretically speaking. But I do agree that seeing an apple-is-done-esque article every day is just a tiniest bit too much.
Considering the big tech selloff...the best names always hold up the best is why I'm still holding long &very deep. Best tech to hold
Apple was extremely strong yesterday so of course a little CNBC bashing in the AH had to happen. Remember they told you it was dead at $107
I guess this is just the kind of action you expect when Apple is (once again) shown to be most profitable company on earth. Typical...
AAPL is struggling to get back above the supply bar of June 9th. With supply in the background like that, it needs to prove demand by showing a sign of strength (wide upward price bar with high volume). So far, no sign of strength. Also, the $1-box by 1-box-reversal point and figure chart showed enough cause for a move up to $154. It has hit nearly $152. It's been lagging the S&P for the last 2 to 3 months. It has that classic-top look. Daily:
Apple should be able to beat the Street's estimates moving forward due to a more favorable sales mix of the iPhone 8, the analyst argued. Part of the upside to estimates could be due to some of the new and "meaningful" technology in the soon-to-be released phone, including VSCEL technology (vertical-cavity surface-emitting lasers for augmented reality features). In fact, Apple is currently asking members of its supply chain to "ship as much componentry as they can" as it believes it will be grated with a "stronger echo or super-cycle" next year.
