Tuesday, October 21, 2008

S & P should see 1000 here

AAPL #s horrid, but stock zooming. Little late for my party, but such is trading. We may get a nice pop tomorrow if AAPL holds up. It should set up a nice opp later this week to the short side, but here I'd be looking tomorrow using the 10 am rule either way. Today's selling was opposite of yesterday's buying, which means it was lackluster, that leads to exaggerated moves both ways. Shorts may scurry tomorrow with the way AAPL is just chugging after hours here. Keep in mind that one reason AAPL is chugging is that it has $25 BIL in cash and had a 80 BIL market cap as of the close today. That's a lot of gun powder to rely on.
This market is looney, so I'm trading smaller lots here until we get a clearer signal either way. One day up, one day down is very choppy. Watch the 10 am rule Wednesday, a breakout over the highs should be buyable. A breakdown not sure. Let's see what shakes out. See, I told ya AAPL would go up! yeah, ok, so I also said to sell it before the close, hehe! Ahhhhhhh, the life of a trader! As I write the stock continues to plow higher, up $15 from its afterhours lows. Very energized move. It'll be an interesting day tomorrow, keep the powder dry! Waxie


Mike said...


AAPL's forecast is way below analysts estimates for the important holiday season, and yet institutions and media called it "safe estimates"???!!!*#&*#&*#&. It appears that this market is looking and trying to makeup good news and/or magnify ANY possible good news at least 100x, and sweep everything else under the rug.

I am just wondering if institutions are buying AAPL's shares after hour, and trying to make false signal that AAPL and the rest of the world has already recovered from a recession.

Erik28 said...


How does your crystal ball forsee the elections + end of this yr playing out in general?

If we get a run up rally up untill the election date, do you see that as a potential TOP for the rest of the yr? (buy the hype, sell the news....play)

And to me, i can only forsee a pretty LARGE sell off in DEC. Due to the window dressing clean up sell off PLUS the tax credits for selling all the big losers and the funds need to clean up before 31 dec, so they can claim the losses as tax relief.

If ya can, please share your general overall opinion/outlook of how you forsee the election + the last 2 months of this yr possibly playing out????


thanks in advance...