Sam: Kudos on your brilliant sell of your options the other day. You picked the right moment, again! Let us know when you buy back.
Thanks Linda. Unfortunately, I took my own advice and established new positions when Apple was between 35 1/2 and 36. The big selloff at the end caught me by surprise and has already cost me about 3/4's point. Oh well, you win some and you lose some.
My advice to you is to watch the market. If we are weak next week, Apple probably will not do too much on the upside (barring news) and may fall a bit further. A crash may retest 30 level, but that's hard to say. I went into August options anticipating a runup on the iMac release. That may have been a mistake. At this point, I suspect the Sept or Oct 35's (without much more market downside) or lower strike positions if the market tanks soon, are the best bet. You may be fighting a weak market, which will probably limit much upside potential for Apple. I still think the stock will outperform, but that's certainly a relative concept. Good luck.
Also, thanks for the info on the iMac purchase. I will probably go the educational discount route, as I told Scott, because I want my daughter to learn to exist without a floppy. With virtually everyone we know having internet addresses, it really doesn't make a lot of sense, especially since one can Zip a series of files into one executible file and E-mail that file.
Sam |
