Congratulations, you're a genius. The stock dropped 2.70 in a couple of minutes. That's over 2%, which I think is noteworthy.
From the Wall Street Journal Online: "Shares of Apple slumped 3% after Web site Engadget reported that the companyâs i-Phone product was being delayed until October, saying âwe have it on authority that as of today, the iPhone launch is being pushed back from June to⦠October (!).â âThis communication is fake and did not come from Apple. Apple is on track to ship iPhone in late June and Mac OS X Leopard in October,â said Apple spokeswoman Natalie Kerris. Doesnât get more direct than that when it comes to denials. Of course, commentors on Engadget are notably apoplectic, and it has shareholders and traders wondering whether somebodyâs doing something fishy. Update: Engadgetâs post is evolving. Theyâve now posted the text of the bogus email they received, and the legitimate Apple email that followed." The trading around this rumor is being heavily investigated.
The thing about stock trad3er's posts is that he is always talking about investing, not trading. Being long high quality stocks in a bull market is a good move, no doubt, but it's not trading which is what 99% of the people on this board are talking about.
the only way to trade aapl is delta neutral (or close). buy some aapl 105 or 110 puts and long the stock on dips. sell the peaks. its maxed out. i really expected them to successfully take it down to 100 by friday. oh well, two trading days left. it seems in this market, for some reason, option sellers almost always get a second chance to buy back cheaper. perhaps thats just by chance.
Even daytraders admit the stock sucks for daytrading. But that applys to most stocks which is why 85% of daytraders LOSE money. There are a few TA formations that can be daytraded with high & of success but is is just a handful. If you invested 100K in apple last year at $55 your would now you would have 200K. You cant get those returns daytrading stocks.
And imagine if the the market crashed, the ipod flopped, macbooks never caught on, and steve jobs was indicted and sent to prison. Your $55 would be $25 and you -can- get those returns daytrading.
But by the time I bought it the IPOD and Ibooks were already an established success, the options 'scandal' was almost over.
Here I go, quoting myself again.... http://gizmodo.com/gadgets/announce...s-4-billion-dollar-iphone-mistake-261101.php-