AAPL - Apple Inc - Page 2

no MP3 player rivals the iPod right now and i don't seeing any new mp3 player changing that. they have the market fairly secure. just like how apple has a far superior personal computer yet microsoft outsells microsoft can come out with a far superior mp3 yet ipod will hold the market for another 1-2 years at least

Alright...got in @ $61.30 Still kicking myself for not buying at $54. argh!

You'll get the chance to kick yourself, if it makes it over 64.30 imidiatly write a 67.50 call against your position and if you get to .10 on the call buy it it back and imidiatly sell the 65.00 against it.
or just bail out.
it may make it to 65.00 but it is faithful to the fibs retracement. and the volume has dropped, not a good time to buy. See that gap it left? has to close it.

It seems I need to read a few more investing books. lol.

Write a call against my position?
Sell $65 against it?
fibs retracement?
Which gap?

If you're shaking your head at me, don't worry...the money I invested is money to learn with :P

Well Chan really was throwing you a bone in all the advice he gave you.

Unfortunately, if you don't know about covered call writing, I'm assuming you don't trade options.

Basically what you should do in my opinion is get out right around the $65.00 because the "Fibonacci Retracements" indicate resistance at that point. Moreover, Apple is notorious for behaving closely with their fibonacci retracements.

The gap he's talkin about is the gap up the stock made:


See the "gap" up in the chart? Stocks typically "fill" their gaps. THus it will come back down to the more usual 55 trading range.

If I were you I would read up in the "Stock Market University" section here at hsm. Especially Chan's thread on Money Management.

Also go to www.stockcharts.com and look at the "chart school" page. Read everything there.

Other than that, look at books and videos on daytrading and investing.

GL! But Chan is saying (and Chan is good), and I'm agreeing, that Apple is going to come back down in the next few weeks. 65 is the top. Get out before the cows come in.

64.70 is top. I'd get out soon.

agreed, get out. gap will be filled

wow. kinda kicking myself for getting out, been doing great since earnings and looking even better today.

so you think it keeps going up, or is it gonna fill the gap?

Man, I shorted the hell out of it the other day. I'm getting my A$$ kicked. I believe in gaps being filled, but I'm also impatient. This needs to take a turn for the worst soon.

i think if it gets some good green tomorrow then the gap won't be filled for while if at all

I think it will soar on August 7th.

whats on aug 7th?

Apple's World Wide Developers Conference. (August 7-11) The 7th is the big day though. When Steve Jobs presents things, he has countless things up his sleeves and blows everyone away. Have you checked out the new Nike Ipod shoes? The ipod phone is now out of the bag. Macrumors.com is usually right 99.999% of the time. Here's the conference info...

http://developer.apple.com/wwdc/index.html?homepage

That gap will get filled. It may be soon, or it may take a while, and I may not wait for it, but it will happen.

War Eagle.

Does anybody think aapl will reach its 52 week high again soon? I am long on aapl in my ira and just curious what you think.

Having that in your IRA is ok but you should really consider learning "covered calls" If you are going to handle your own funds, this is a must. Once you master this strategy you will not care if it goes back to the 52 week high.
This strategy is allowed in IRAs because it is so conservative.

Hit the fibs retracement to the penny!

A concervative move here would be sell the 67.50 call a little more aggresive would be 65
I would go with the 67.50
I would sell the 67.50 buy it back around .20 and then sell the 65
before expiration

So you still don't think a short oppurtunity has come into play here?

Chan,

Where can I go to learn about the fibs charting? Its all Greek to me and there are several retracements indicated.