Notice the falling volume as AAPL makes its climb from 570. If funds were buying back in big the volume would rise, would it not? So perhaps we're watching a slow motion short squeeze. i.e. Bears quietly cover there positions little by little, and then sneak back into their caves.
I never argue with the tape. Getting sore at the market doesn't get you anywhere. There is one side to the stock market; and it is not the bull side or bear side, but the right side....Jesse Livermore.
i love Jesse Livermore.. what a gangster.. i wish the end of his life story didn't end so badly That guy had serious balls
No one knows why for sure, but... They changed the rules at the Exchange, making it so he couldn't trade in his dominating style anymore. Broke again, and realizing he had no chance to make another one of his amazing comebacks, he went into the coat room, sat down, and calmly pulled the trigger.
realistically the guy had terrible money management... he made enough money for 100 life times and couldn't set down trading after that
i wish i could go back in time and put the guy in rehab.. haha... i'm looking at a 630/640/650 butterfly.. figuring on another day up..
I like the 625/640/665 in September. Back to school sales and possible iphone 5 should keep the stock in that range.
shorter term i likey more... i'm worried more about future volatility in either direction.. the stock is sort of floating around right now... if it breaks up.. it will really move.. i feel more confident nearer term.. i'm even thinking of lowering the risk with a 625/635/645 butterfly... i'm looking at the open interest to.. plus i'm thinking things won't super jump going into this opex..