AAPL/Market Thoughts Continued
I would have to agree with ODA125's take on doing nothing with AAPL at the moment. We are at expiration Friday for the January options and so the best course of action for now will be to let all this commotion clear and look for a new week next week.
I'm looking to the QQQQ's right now to give me a cue on the strength of the tech stocks which seems to be the focus of attention lately. Any breakdown of the 42.50-43 level should be a sign of considerable structural weakness to the overall uptrend since August 06.
Some folks are concerned that we might repeat last year's first half of market action where we had a relatively strong run from January to May 2006 but then had a large correction from May to August.
If that is the case then our June/July/August options should perform well.
Again, I'll be looking for a put hedge position in the QQQQ's at the aforementioned breakdown level.
2 comments:
Terence,
Thanks for the mention in your posts on good ol AAPL.
AAPL is still being beaten around by the scared as they try to scrap profits from the "floor". I think it will still run down abit more and we should see the Big Boys start back in again for the run to a 100. As always time will tell.
I agree. Alot will probably depend on how the tech sector moves this coming week. We have a slew of earnings coming up on various tech stocks which will most likely bode for a bumpy ride. Get your seatbelts on. Thanks ODA125.
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