AAPL leading the nasdaq again. Once they push it above $300 market will push higher over all, I think this can happen as early as mid day on shares of AAPL. $300 is coming and once it breaks $300 who knows where its going to stop, earnings are coming up, as much as it is priced in already, after earnings it should push up another 10%, $350 is not out of question by December 2010. Who knows how long apple can keep going, right now its a leader but as we all know leaders dont last forever, eventually apple stock will fall just like the rest of companies that have been on top in the past. And for apple it doesnt take much, a slow down in iphone sales or ipad sales and you could easily see a 20% correction in the shares sometime in the future. Right now the nasdaq 100 is made up largely of apple, that being said once apple correct so will the entire NDX 100.
If the markets don't trade down they sure know how to sit quietly with small gain, should see volatility pick up towards the end of the day as they push the markets to intraday highs.
the S&P has gone against me on this thread by 65 points. Yet my Oct 1200 calls are only 1/2 and probably will expire worthless. Unfortunately I covered 2/3 of them at a fractional loss, but if they do expire worthless I will still have made a profit on the trade. I'm the first one to admit I was wrong from 1105 to 1170. But at least I managed the risk correctly and may end up with a small profit selling Oct 1200 calls.
Hi boys. Let me know if you want me to bump my 1200 call from 1Q this year. Or my precursor call from 3 weeks ago that had a 2-week horizon... My models are getting better and better over time, and I have to say, the amount of pessimism on this board only added to the conviction of our models.
Bump it now to 1250 by December because thats where its going, you would think they could just rally the SPX up 75 points in a few days to get it done with already, we all know its coming after the elections, than everyone can raise their prediction to 1300, 1350 and then to 1600 by the end of 2011, new highs are a coming people, get ready for your risk free money.
It's not a sprint, it's a marathon. We're going to re-run the models over the weekend, though since I wrote them, I fully expect them to show a few gaps up after some retracement in the next 4-6 weeks. I don't expect the bearish-bias to wain until 1230-1250.
I was just thinking if the SPX is nearing 1200 while tens of millions are out of work or working only part time, gdp is around 1-2% and foreclosures at record highs where the fuck is the SPX going to be when we get back to 2007 levels of unemployment being under 5%, GDP ranging 3-5% and no more foreclosures. This is going to be the most insane craziest market in history, 2007 highs will be broken in no time at the rate this market is going, just wait until people start working again and GDP starts to rise, I am thinking the SPX could easily be above 2500, maybe even 3000 in 2 years. This is just the beginning for the bulls, the good times aren't even here yet in the markets, imagine where stocks will be trading at in years to come as the economy continues to be propped up by bubble ben bernanke and friends. Forget it, just buy now and wait, you will be able to retire a lot younger than 60,68 or 72, the new retirement age will drop to 38 if everyone starts putting everything they have into the market. The party is just beginning and bubble ben bernanke is the one to thank for the good times the economy is going to see once again. Cheers to the bulls and the risk free money making scheme.