It is a steady day for Apple, which went up only $1 3/16 but with
huge volume (16.3+m), the second largest volume since August 6,'97.
I think shorts were acting successfully on depressing the price.
There are probably still 15m+ shares in short positions. It's amazing
to me that they could control that well, conspiracy? Hmmm...
Besides, there is another force that stops the price moving north,
which is option's witching expiration on Friday, which
forces a significant number of holders clean up their holdings.
As long as short positions are well above 10%, they are going to
fight with what they have, especially institutional managers. Well,
it's like playing with fire, sometimes they will get burned, may not
be today, but it could be tomorrow or after all options are cleared
next Tuesday.
Phil |
