Indices did a U turn around 10.30 AM & never looked back.
All Indices closed UP with volume higher than yesterday.
Internals of the market were as follows :
UP volume led by 12.93 to 1 in NYSE & 6.46 to 1 in Nasdaq
Advancing stocks led by 5.23 to 1 in NYSE & 3.23 to 1 in Nasdaq
VIX closed Down 5.48% @ 31.56
Oil closed @ $88.34
Gold closed @ $1652.80
Stocks which closed UP 3% or more included RIMM,MS,JCP,
JKS,TSL,TLM,CNQ,TCK,GS,VMW,BAC,C,SU,M,JDSU,
CIEN,KOG......
AH ER were greeted as follows :
JNPR Down .14%
YHOO UP 2.59%
INTC UP 4.32%
AAPL Down 6.70%
AAPL ER was a major downer, it was a big miss in Sales & EPS......
Sales actual $28.27 Billion...consensus $29.69 Billion..... a miss of $1.42 Billion
EPS actual $7.05...consensus $7.39...a miss by 34 cents
iPhone Sales actual 17.1 million...consensus 19 to 20 million...a miss of 2.40 million units from mid-point.....
In investing, one has to stay OBJECTIVE not EMOTIONAL..it is all about results & making money....a BIG MISS is a BIG MISS.......
AAPL is guiding HIGHER than consensus
AH Futures Down
AH Asian Markets UP
AH Gold UP
AH Oil Down
BLOG does NOT give buy or sell.
Saleem
15 comments:
SALEEM
Good morning to you
thanks for market review
Well said on APPLE
it is HARD to not get emotional...
More Europe crisis -Spain Downgraded--what ever happened to warning and transparency and all the banks were tested and got rosy reviews! yeks
Lots of noise--confuse ones concentration...
What is your opinion as to my call; wait the day out for dust to settle or close at open? Since it closes nov 11 I got 2 weeks!
C
Hi C,
I will strongly urge you to close @ open....Option is very dangerous in these situation.....
Saleem
Hi C
When a company report earning, there is always a large premium on options. After earning out, all those extra premium will be gone. At this point you have to ask yourself if AAPL going to recover. If yes, keep it. I sold my AAPL before earning because i think there will be a sell the news effect no matter what Apple say, but I did get it back in the 390's.
Thank you Up and Saleem
IT all come s down to greed.....
What is on the table vs. a gamble that more upside is to come in the next 3 weeks.
I gotta think this thru.
Apple has lots of choices that they have for there future --Like a DIVIDEND -- buy other companies? New products and more phones to come.
Dunno at this point what to do. I do own 88 shares as a core position but the call was to make some extra $$ in the run up to earnings! APPLE never missed there estimated earnings they exceeded them --however they did not exceed the banks and etc estimates!
thanks again
C
Hi C,
Keep your 88 shares for next 2 years......
BUT options you do not want to risk it.....
Saleem
Hey c,
At least FCX is looking good for you this morning, and if they get that strike resolved, you'll really get a pop! :)
As for your AAPL calls, I personally would keep them. You are deep enough in the money that you aren't losing too much premium by waiting. Additionally, the "guide up" for the next quarter was striking for me. AAPL is traditionally very conservative, and I can't recall them guiding above analysts' estimates for the upcoming quarter ever. I think this bodes extremely well for the company and the stock in this Q4.
Good luck with your decisions.
Stocktrader
HELLO to all
Yes keeping the cores shares is a great idea--will do.
I entered an order at a limit of $68.95 for the nov 11 call of $355 I did not want to do a market order as It could fill at an outrageous price!
they do not do pre market on options so I can not judge the premium prices.....
thoughts?
C
Hey c,
Also those options expire Nov 19th, so you might have more time than you think.
Stocktrader
Hey c,
One more thing too--you should expect the option to drop almost the whole $20 at open given how deep in the money you are, so you need to base your strategy on price expectation from the new baseline.
Stocktrader
Stocktrader and all
thanks for sharing advice...
We will know some answers in a few minutes
I am surprised that the option chain shows Nov 11 and you say the Nov 19 I never under stood that ...
FCX is down .01 cents
This is one very interesting morning.
Best to all
Hey c,
The Nov 11 refers to Nov 2011. The actual date is the 19th (18th for trading).
Yeah, FCX gave back all of those pre-market gains...
Stocktrader
S
Yeks
Apple shows the call is worth $50 smackers
a drop of $17 dollars
from $69 to $50 gosh
SALEEM
adn Bloggers
her is my deal
I have an in to close the call at $68.05 way high but a yesterday closing price
The call is worth $50 right now
The fast money people say at 10:30 the air should clear and sellers should be all gone --at that point one can tell what the market wants to do with APPLE.
we have sold 8 million shares already--huge volume
this is ONE big learning exercise for me
thanks to all who have helped understand my deep in the money call on APPLE and taught me to be humble...
regards to you all
Saleem
Sold the last of EVEP
at $75 per share
I wanted to free up some funds
I gotta wait 3 business days to free the funds-yuk
TOTAL is still climbing up as is EPD
I may re buy EVEP is it drops in price again
C
Hi C,
Great idea to have a strategy to sell......
Sometimes 3 day wait may work out better.....
Saleem
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