Didn't short, but did
... sell some covered calls right near the close yesterday: May $25s. $26 has proven to be strong resistance for about a year now, and I didn't foresee enough positive guidance to be able to get over that level in the next 4 1/2 weeks. I also don't foresee Apple releasing any killer new products in that time frame. And a lot of other PC companies are going to be releasing earnings between now and then, and with the exception of Dell, I don't expect any of those companies to be anywhere near as positive as Apple, results-wise. Well, maybe H-P will "invent" some good results to make itself look good to beleaguered Compaq shareholders, but that's pretty much it.
Gateway, Compaq, and Microsoft all release earnings today (Dell and H-P won't until next month), so the major mover in the PC market beyond the second half of yesterday and the first hour and a half this morning is still to come. I expect that a lot of people are staying on the sidelines in anticipation, mice elf.
Buona fortuna |
