Any comments regarding today's stock action?
There seems to be some support at 35 1/2. It hit that level twice, each time bouncing right back up again. The afternoon rally is encouraging.
Tomorrow's open should give us a good indication of future direction.
The last two days, the day's losses were portended by a gap down in the stock at the open.
Therefore, if we can hold at least 36 1/4 at the open tomorrow, I believe this would be very bullish. If we gap down at the open tomorrow, that would be three days in a row and perhaps a sign of a further correction.
Andrew
P.S.--I just got in to Jan 40 calls. With a personal 6-month price target on AAPL at 50, I think these calls are still a bargain.
P.P.S.--I know it's early, but does anyone have some preliminary projections on Q4? My estimate, based on Anderson's vague comment about "up to 10% sequential revenue growth next quarter," is about 65 cents. I'm hoping for a return to Q1 revenue levels (1,570) and a reduction to Q2's margin (24.8%). Much depends on just how "constrained" that iMac supply is really going to be. . . |
