S&P 500 high today was 1185.53
Nasdaq high today was 2480.95
These numbers will be taken as "major resistance"
AH was a bloodbath for major reporting companies...
AH AAPL down 6.13%...margin,ipod,ipad miss
AH VMW down 5.68% miss with deferred revenue & cash flow
AH IBM down 3.31% miss on guidance & service revenue
AH is proving once again not to be too giddy with any stock..profit needs to be booked & losses must be contained...
Markets seems like have reached a near term top which was getting very clear based on RSI readings for indices & some stocks.....
Traders do forget that we cannot go UP in straight line for too long......
AH futures Down sharply in Nasdaq ..Down 33.30
AH Asian markets mixed
Gold ,Silver Down
BLOG does NOT give buy or sell.
Saleem
6 comments:
SALEEM
While I agree with you
I respectfully still say APPLE rules: Look at one of the first upgrades! Please
ple, Inc.: Confident in its Competitive Position
While shares may react lower in the immediate-term to lower-than-expected gross margins, we believe Apple's F4Q report was very solid given the beat in Macs and iPhones, and a surprise appearance by a very confident Steve Jobs. We believe the above-consensus revenue guide was also positive, and that the EPS and gross margin outlook is quite conservative. Reiterate 1-OW.
Apple reported F4Q EPS of $4.64, significantly beating our recently raised estimate of $4.05 & consensus of $4.08 on better-than-expected revenue (strong Macs & iPhones) & a lower-than-expected tax rate ($0.32 of help vs. expectations) offsetting slightly lower gross margins & other income.
We now estimate F1Q EPS of $5.20 (was $5.01) on 51.5% y/y revenue growth to $23.7B (was $22.87B) & gross margin of 37% (was 38%). For FY11 we estimate EPS of $18.30 (was $17.80) on 29% y/y revenue growth. For FY12, we estimate EPS of $21.25 on 16% y/y revenue growth.
Our price target is $390 based on 15x our new FY12 EPS estimate of $21.25 excl. interest income but adding back forward 12-mth cash.
I say buy apple
and Dupont we need chemicals and oh the banks are truning up too.....
Hi C,
My perspective is always from traders point of view.....
I always say investors can ignore all my comment about short term movement.
Since you are a M to L term investor..you should and do follow your own conviction.
I will be buying AAPL after it forms a base......
Saleem
SALEEM
I did buy some LVS---Not much 100 shares as I got little cash to play with and LVS is not my usual buy
I liked your rational for buying it
It earnings are 11-2 -2010 and should be a blast
Any ideas as to it break out ???
You are way cool and I love your honesty--when I grow up I wanna be like you?? smile
I still need to buy a book on how to short as I can see I do NOT know how to short! Do you but uncovered puts? at some set price? How does it work?
oh well I can not get it --may be I am densehAVE A GREAT DAY
The very best to all!!!!
Hi Madmax,
LVS will be a very good stock to own for long term.....
About shorting...i use two approach...normally short stock with half position as shorting is very dangerous.
Second approach could be through put..which is a safer approach....i use both depending on how i feel.....
BUT..in short..you must cover in 48 hrs otherwise you are sure to lose money very quickly....
Saleem
thanks so much
How does one determine the put price?
and how do you palce the order ?
I guess that I will ask you to piggy back a trade to learn how do it.
In this market we are due for a pull back--IMHO
thanks
Hi C,
Put is based on what you think any stock will do in next 24 hrs...for example AAPL trading @ $307 right now..do you expect it to go to $305..then you can go to AAPL $310 put and buy it for a quick trade...you must buy in the money put to benefit quickly and has to be daytrade.....
Saleem
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