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  1. What are your opinions on the updated news on the options scandal. Buying opportunity or is it time to dump the stock and move on.
  2. ja, i think is a buy opp but cautious with a small pos as a start...if it rebounds nicely [which i think it will] then add. only concern is the fact the have to restate earnings goin' back to 2002 but what the heck, can those options grants make much of a dent into those massive results? dont think so.
  3. i agree. but emotional investors do unreasonable things. a few days ago, i bought 5 67.5 august straddles on apple. this will be interesting.
  4. How come nothing happens AH?
  5. It was announced too late. There was some selling to 65.00.

    This is 4 years of incorrect earnings. Even though the variance in numbers may not be big, imagine the possible shareholder lawsuits, and possible liability from potential manipulations that have occured throughout the years.

    This is a major blow to public trust in the market. I can't imagine this thing NOT selling off 20 points tommorow. We all know what happens to even the most profitable companies when bad news like this comes out.

    There's even talk of ousting Steve Jobs. That can't bode well.

    [disclosure: i've lost quite a bit in the past going long on Aapl.. now I happen to own a few puts. just my luck. maybe I'll break even]
  6. I'm long aapl too at 67.90, down 4+ points in after hrs trading. :(
  7. get out quick and take your loss. and don't be too eager to rebuy.
  8. Should have seen this coming. Some street hustler upgraded it this past Monday and it has been on a roll since. The big boys got out at a better price...



    Oh boyyy! the comedy on this board. Seriously, you can't make shit like this up. LOL :D

  10. You're not kidding. To think I was wasting my time replying to some whinny trader-want-to-be on some penny ante scam he got sheared on.

    You gotta love the sheep!! Hey someone has to pay the bills right?

  11. well, i think it is too...maybe got some furhter to go down from here but it sold off heavely before reboundin' and in sept schools open...strongest qt for aapl typically is this....im thinkin' holdin' for a couple of months or more not a quicky.
    cautious buy imo.

    by the way it is already gone vertical here in premkt.
  12. a lot of retail is locked out before 8:00am. i am curious what happens then, then at open. i'll be shorting today. i own calls anyway, so i'm hedged either way.
  13. AAPL got lucky that the market is on a trend up day...
  14. i am in awe right now. down only 2% on 4 years of possibly incorrect earnings reports and fraud?

    what's wrong with this market? :)
  15. you have to think how incorrect the earnings are going to be...

    so they are off by a few million because of some options grants - is that a big deal?(and that's the WORST case scenerio...)

    It's not like they didn't make money of their products and lied about it.... isn't that what the street cares about? :cool:
  16. If they found one cockroach in the house...

    Why take chances?
  17. especially since it came up so quick - stocks with this type of volatility often move more on -no- news.

    (i was really expecting a 10 point move)

  18. ugh -

    this is not an enron situation. you have to remember that options backdating, the way a lot of companies are doing it, is not illegal and has been done for decades. it has just recently been considered a fashion faux-pas. Add to that the fact that AAPL is being proactive and has not been contacted by the SEC, and this is a non issue. I really expect the retail traders to sell this off and the institutions to come in and buy it at the close.
  19. I was also expecting a big move. This would almost seem like just another trading day for aapl, albeit a bit extreme on a mkt down day (if after hrs is ignored). As another poster stated, they are very fortunate for the good numbers today.

    short aapl 67.00
  20. 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.
  21. 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! :D
  22. 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,

  23. I'm selling Aug 65 CC and expecting to be assigned.

  24. 0wned.

    note: the longs will own even more next week.......

    :D :cool: :D (all in good fun my man)


  25. 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....

  26. bought from you!!!! :D :D :D
  27. 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.
  28. 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.
  29. 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).

  30. no worries - and i did see that you were out of the trade.

    im only a few years out of school (27) and i'm still learning too.

  31. Should be a volatility catalyst either way - IV dropped 15% pts making this a good strangle if you got in today
  32. I'm surprised by that IV drop. I noticed this -- doesn't make any sense. It seems now more than ever there is more potential 'explosiveness' either direction. Premiums should be going up, not down.
  33. yes, it was about 37% yesterday, could still get in at about 40% today (vs the latest hi of about 52%) so there was still room this a.m.
  34. up we go....

    :D :D :cool:

    note: jobs leaked financial numbers at the wwdc keynote 20 minute ago...
  35. what kind of numbers?
    aapl's hitting a rough patch about now
  36. http://live.appleinsider.com/

    scroll to the bottom.

    rough patch? heh.
  37. 08/07 10:30am ....making fun of Microsoft (Redmond) - kasper
    08/07 10:28am Still making fun of how Vista is a carbon copy of Tiger... - kasper
    08/07 10:29am Crowd gets their jollies - kasper

  38. the pain the past few days... ugh.

    i would really like to see those programs sitting around 64.50 to be taken out to the upside..... :D
  39. technical longs have been selling as the average max range has been reached around $70, to a TA trader it was to be expected.
  40. I am flat in aapl, I hope for the longs you are right but have to disagree...aapl is one of them....aapl would not be the first stock to have good earning/sales and still fall...
    several of the stocks that just reported and beat expectations still fell as a result of the on going saga...

    we need to remember ....we really don't exist...in this game..just allow to participate with much risk...we will never know the agenda of the stock with funds and institutions etc running the game...
    aapl will break 60 dollars and be mid to low 50's before sept options expiry ...in my oppinion

  41. Here we go. I don't know if it is suposed to be an upside-down head & shoulders, or a descending triangle (I know they have a specific name) but I'm sure someone might find this useful. I was just looking at the chart (at now 4 AM) and saw it.
  42. sigh.....

  43. Pretty serious business...

    APPL better not feck up anything.

    That's my favorite stock to trade!!!!

  44. the volatility is nice. whats your trading style?
  45. Make more money than lose....


    I'm just scalping on the 1 minute timeframe. I might only get 3 - 5 cents out of AAPL per trade on average. I have been on the hunt for stocks with much more volatility. ... Another GOOG, with a tighter spread... would be freaking awesome.

    Fairly easy for me to work the stocks when they move, but when liquidity is not there, I'm not so good at all.
  46. How come it didn't go down much AH?
  47. we're both amazed with its strength.

    It feels like the market as a whole is finally acknowledging a switch to bear mode, and yet no big selloff you'd expect.
  48. I think all the big boys took the Fri off.

    Next time when you see Barron's bulling any stock on the cover, you'd better get out quick.
  49. oh gosh, aapl is done, get out of longs and buy your puts now if you haven't already. remember the cockroach theory, one cockroach, two cockroaches, pretty soon we're talking real big cockroaches..

    an ailing stage 3 stock in an ailing group in an ailing market -don't be surprised if it gaps down 10pts
  50. that would make my day.
    hopefully it happens before august expiration ... if not .. i'll have to renew forward to Sep. :)

    but may do it in straddle form again. apple works well with straddles.
  51. What is your typical stop loss on AAPL??
  52. Long or short straddle?
  53. short straddle? hahahah... a trade like that would be as close to russian roulette as you could get.