3SOF

This won't help the short case much....


Apple upped at Bank of America on iPods, MacBooks
Last Update: 6:04 AM ET Jul 31, 2006

LONDON (MarketWatch) -- Bank of America equity research upgraded Apple Computer, Inc. (AAPL : Apple Computer, Inc.
News , chart, profile, more
Last: 65.59+2.19+3.45%

7:31am 07/31/2006

AAPL65.59, +2.19, +3.5%) to buy from neutral and raised its price target to $79 from $68, citing strong demand for MacBooks and iPod digital music players. The broker told clients that depending on whether Apple can generate enough additional unit sales in the second half, it sees upside potential to earnings from iPods of 8 cents to 12 cents a share. Bank of America noted that it is not taking into account the impact of an Apple phone, which it expects to be introduced in 2007.

Quote from: basonista on July 31, 2006, 07:48:25 AM
This won't help the short case much....


Apple upped at Bank of America on iPods, MacBooks
Last Update: 6:04 AM ET Jul 31, 2006

basonita,

No, it sure doesn't.

It would appear that the good fundamentals are trumping the technicals, and the analysts are getting behind it.

After about a 30% parabolic rally off of the 50.16 low, and rallying through all of the resistance that we discussed, for my case to be valid for shorting at the top of that resistance, AAPL "should be" done on the upside here, and "should" fade.

Instead, it's showing continued strength, gapping higher this morning at the open, so unless AAPL gaps and fizzles, I don't have a good case for shorting the top of resistance.  It won't have been resistance if AAPL gaps and shows further strength.

I'll look to cover in that case. 

no worries AAPL is heading down now. GAP up was short lived my stop was going to be set at 67.80.

AAPL still showing some strength, we will probley need some help from the market to help the AAPL short.

Quote from: nullzero on July 31, 2006, 09:50:55 AM
no worries AAPL is heading down now. GAP up was short lived my stop was going to be set at 67.80.

nullz, 

I covered at 67.24, above the 10AM high.  We got the early fizzle off the gap up, but it's come back and made two new highs on the morning.  That's too much strength for my taste.

Shorted at 65.66.  Covered at 67.24.  Loss: 2.4%

Im not going to throw the towel in yet. Im going to let my AAPL trade ride with a 10% stop, im willing to take the risk.

Quote from: nullzero on July 31, 2006, 10:28:07 AM
Im not going to throw the towel in yet. Im going to let my AAPL trade ride with a 10% stop, im willing to take the risk.

nullz,

It's looking strong on good volume, but I hope that you get a big downside reversal.

I couldn't justify staying short.  My thesis for shorting was blown this morning.  Good luck!

Im crossing my fingers that the market is on myside. Most the short covering is over so it doesnt look like there is a cataylst to move AAPL higher through out the week.

The rally is kind of irregular, this could be a BULL TRAP... (IMHO)

Quote from: nullzero on July 31, 2006, 10:28:07 AM
Im not going to throw the towel in yet. Im going to let my AAPL trade ride with a 10% stop, im willing to take the risk.

I'll be joining you in the short side nullzero... I'm just waiting for the right time...
as previous post, this could be a BULL TRAP.

Count me in as a short. In at 68.15 

/cheers  good to see more joining in on the short side  . We need reinforcements latest rally wiped alot of us out. On an interesting note one of the big boys sold 100k block today on AAPL, my guess is its Bank of America. If this is true that would be about 10% of bank of americas total holdings in AAPL. Big boys look like they want out.

AAPL

Quote from: nullzero on July 31, 2006, 11:56:24 AM
/cheers  good to see more joining in on the short side  . We need reinforcements latest rally wiped alot of us out. On an interesting note one of the big boys sold 100k block today on AAPL, my guess is its Bank of America. If this is true that would be about 10% of bank of americas total holdings in AAPL. Big boys look like they want out.

If only we could all hype up a stock to bail out of it 

hehe so true nutsterrt