Poll:
Are you guys selling now and then buying back Friday? Or do you think we can head higher from here tomorrow? I think this is too big of a gain for 1 day and we have the jobs report coming up. I plan to buy back Friday hopefully at 242-243. But I could be totally wrong here!!!
conshmillo 2:31 pm on September 1, 2010 522 days ago Reply
I sold my OCT 260 calls I bought last week when AAPL was 240 today (when AAPL was 251). I also tested this week first time shorting weekly 250 puts. I covered those when AAPL hit 250 today for $6 bucks gain. As I said on Sunday, I believe AAPL will get pinned to 250 this week, so if there is significant pullback (support is @245.75) I might be getting back in with either OCT 260 calls or by shorting weekly 250 puts.
conshmillo 2:41 pm on September 1, 2010 522 days ago Reply
+ don’t forget that if AAPL will close today around 250 there will be a huge gap
from yesterday close with tall green bar on top of it. That is an indication of going higher still. With that in mind, if we close high today, AAPL will book bullish cross on daily MACD. This would be a strong sign of AAPL continuing higher from here. So my guess is job report might bring us a bit lower on/before Friday, but if it is not total disaster we will most probably see continuation higher next week in both market in general and AAPL in particular.
hocm12 5:25 pm on September 1, 2010 522 days ago Reply
@conshmillo
Absolutely agree with you. Bought some spx puts today…. Will sell them And buy aapl back before Friday.
conshmillo 6:59 pm on September 1, 2010 522 days ago Reply
@hocm12
I personally wouldn’t go as far as shorting indexes right now. There are too many bullish indicators lighting up to go short for my taste. But you may be able to pull it off with Friday’s jobs report. I’ll be looking for possible dips to get back long again.
nolavabo 3:48 pm on September 1, 2010 522 days ago Reply
Using my theory of weekly pins, AAPL will be pinned to $250 by Friday close. Thus, anybody who bought $250 calls (especially today) and holds them until expiry will see them expire worthless.
liuzinho 4:17 pm on September 1, 2010 522 days ago Reply
I sold it today. I think it was a huge climb for 1 day. My guess is that tomorrow AAPL might go down a little bit.