Looks like Herman Pu will catch another bounce tomorrow.
Stock Market Today : June 4th - 8th - Page 8
For those that think I asked MPR a stupid question here's 2 definitions of LOD and I simply asked his perspective.
Low Of Day (LOD)
The same security can have different LOD's depending on the trader's perspective. If a trader is looking at a symbol that has an RTH session as well as an Overnight Session then the LOD could be different to the LOD created by the 24-hour trading session.
The LOD and it's opposite, the High Of Day (HOD) are important because these are the extremes of the market and being able to pre-determine and forecast either of these values will result in profitable targets or entry points. Being able to determine both LOD and HOD is extremely profitable as it would mean that your potential profit is the same as the range of the day.
Venom, Apple has a 1.26 beta meaning it should be a little more volatile than the S&P. Its a tech stock so its normal. The beta is also calculated using a certain time frame which isn't standard, so AAPL has moved big in the last few months and I don't know if there is such thing as "Current Beta" which looks at the volatility in a shorter time span.
It should only be down about 1% if the S&P is down .72% like it is today.
So you're right it is down almost double the expected using a historical beta of 1.26, but that seems really low to me, probably using multiyear price variances.
I'm definitely looking to buy a SPY call spread right now. Probably the 125/128 for next week's expiration.
If SPY was flat until next Friday it would be a 25% gain, if it goes up only .6% to $128 to give me the max gain of 63%.
If it goes down .6% to $126.50, I would lose 20%.
Risk reward seems pretty good. Volatility at 27% kinda high but not too bad.
I'm sure you know more about the company than we do, but looking at the chart, $25 area seems to be a good support, thats where it is now. I wouldn't be shy about buying it, especially with an 11 PE.
A company that helps maintain cars should be fine because cars on the road are avg 10 years old.
Looking at the recent earnings, analysts seem to be worried about the price reductions and cheaper line of products that have come out.
The CEO seems to be confident that in the long-run that his strategy will help keep the company competitive and improve market share.
Most stocks follow the overall markets, so I usually just trade SPY, don't really know how to analyze specific stocks.
Looks like the guru's are busy so here's a stock turkeys view..
Can see a few bottoms there.. may have lower to go.. hopefully this will spark a comment from a *hipster, analyst... or dare I say it.... SJE himself.....