Futures heavily up. Should be strong open. Shanghai closed down -0.60%. London FTSE 100 is up +1.43% at this moment! AAPL should break both of it’s most immediate resistances (244.56, 245.75) right at the open.
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conshmillo 10:19 am on September 1, 2010 523 days ago Reply
out of Monday’s SEP 10 DIA 101 CALL @3.05 for +0.94
conshmillo 10:45 am on September 1, 2010 523 days ago Reply
AAPL – Bang!!! Both resistances broken even before open
Next ones are: 254.67, 265.99. 245.75 is now support.
Most of the morning action is due to the market going up as a whole, not AAPL in particular. US economy may be still in shambles and private sector still does not give a shit about American worker, but world economies are more stable and doing better. That means people in the world will have more money to buy American goods, which will eventually help American economy more than any unconditional tax cuts. Today’s ADP report showed that private sector employment decreased by 10,000 jobs in August in US. (That would be that 10,000 jobs that magically appeared in Shanghai – it’s called jobs teleporting) There is no way that economic situation will improve before more jobs are brought back to US. Give tax cuts based on how many Americans corporations employ. More of them they employ, bigger their tax cut should be. Unconditional tax wont do anything for the economy. They’ll just increase their profits, but wont make US economy necessary better. People have to be earning money in order to be spending money.
caruso2323 12:36 pm on September 1, 2010 523 days ago Reply
@conshmillo
Unemployment at this stage of the recovery is not a problem IMHO …
Just a reminder of the capitalist greedy system :
1) If unemployment is high this keeps the salaries down and also the inflation…
2) If the inflation is down, and unemployment remains high interest rates are kept low and entice consumers to spend (The 90% employed)
THe above is true as long as productivity is improved through technology which is great for AAPL / NASDAQ
The street seems to have forgotten that the premise of this slow recovery from the biggest recession ever was that the US economy would be dragged by a 10% + unemployment…
The US unemployment problem is related to the global environment and fairer distribution of wealth world-wide… I believe that a big chunk of those unemployed will need to be recycled into new jobs in areas where the US can adequately compete with… In the mean time, greedy corporations (including AAPL) which have piled up massive profits will have to be taxed by the government… Taxed credits could be offered to develop strategic areas to the US :
- Energy self-sufficiency
- High Tech
My 2cents …
conshmillo 10:49 am on September 1, 2010 523 days ago Reply
250!!! hod
caruso2323 12:19 pm on September 1, 2010 523 days ago Reply
I see us topping 253 something for today unless SJ impresses… If SJ impresses we may get the 257.55 to 255.69 gap filled … This begs the question : Will it close closer to 250 or to 260 ? …
On a day like this we should be trading in the 260-262 range, given the low probability brought back about the double-dip… But the volume is not there… Not enough buyers to get us there… Unless a buy signal is sent : iPhones or at least iPads… If a 3g iPod is announced I am not sure the street will recognize the impact on AAPL…