ha.. did every short get out of apple in time? i avged around 66.80 and got out avg 65.75. looks like it recovered nicely so far to 68.16. i happened to also buy some 72.50 calls (august) at .60 since the market's reaction was so unexpected. They closed at .75. this stock has strength after a showing like that.
Fortunately got out at the 66.20 area as it paused there for a bit. I read krazykarl's post and it definitely was along the lines of what I was thinking, but i had the institutions coming in just after the weekend on monday. ah well, take what you're given!
all you need to do is look at all the other stocks that admitted or are being investigated on back dating and you will see most have already lost all or most of what they rallied since October through January's move. mrvl, brcm, npsp, rmbs, etc... aapl will be punished.. you can recoup some or most of your losses exiting and writting puts once the market has balanced ..and use the new adjusted long position to make additional profit.. the news is hammering this every day..plus it's August ... good luck, w
aapl is not them - there is a rotation occuring and apple will begin to take more market share because they are innovating. watch laptop sales to pick up where the iPod sales leave off....
ya, its the season [freakin' schools open---massive sales of ipods/macs, ect...look back what happened to the stock in the past 3yrs from summer-end 'till january and then tell me what the odds of a huge tumble really are.
Karl, It was a daytrade. If you read any posts other than that one before you posted, maybe you would have read that I was out at the 66.20 pause. Anyway, you would have also read that I agree with you and think that AAPL is a strong company and that no management changes will take place. It's just too far fetched over options that didn't profit. Something like this on such a strong quarter for apple was bound to be nullified (in my humble opinion). P.S. I'm not defending myself from your "owned" comment, I'm still very young (still in college) and new to the market so I welcome any constructive criticism, I just wanted to point out that you should read the follow-up posts. Thanks and good trading to you.
oops, perhaps I should take my own advice and read a bit more carefully. did not read the part "all in good fun" haha, sorry for my defensiveness, my ego is still tender (gotta work on that).