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Technology Stocks : Apple Inc.

AAPL 278.79

-0.7%

Dec 5 9:30 AM EST

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To: Mick Mørmøny who wrote (103054)	9/15/2010 4:47:38 PM
From: Trader J	of 213173

I agree, but I've already got my positions. I'm sitting in long shares but my trading play has been the 2012 $250s and the 2012 $300s. I just doubled up on the 2012 300s when the sky was falling and AAPL was at $238 in late Aug. and all the TA traders were professing the clear downtrend and the inability to buy but as money flow into the stock remained positive. I use them a lot like my personal VIX now. Those last $300s I got were at $23.80 if I recall. If this rally stalls, I'm probably going to roll out of the $250s and into more $300s, after some of the profit taking takes place. I've actually considered selling some $320 (give or take) Calls or the like as a hedge, but don't think I'm going to. It's been a nice, steady climb without the run-away volume. We're above resistance now clearly with only a bit at the $275 level or so but I don't see anything posing a significant negative catalyst going into the next two quarters (save one that I won't even mention) that gives me any great level of pause. My dream scenario is to see a push to $300 or so and see a 4:1 split.

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