<Watch out for Options! I'm looking in to it, too, but I may go longer term, and in the money. Gotta run the numbers. Anyone got a hint?>
Actually, I'm already in other AAPL options--specifically Jan 40 calls. I bought them back when the market wasn't teetering quite so close to the edge, but I still feel relatively confident about my position. AAPL along with CPQ and DELL have held up AMAZINGLY well over the last three days. I believe that many stocks are already bottoming, and our favorite stock is one of them.
Watching the ticks go by on AAPL, you could see that it was absolutely *itching* to go up (not to anthropomorphize). Every tiny little bump up today in the indices brought AAPL eagerly along with it.
We've tested the 33 level twice with a nice bounce up both times, so I'd be very surprised, even with a market tank, to see AAPL fall decidedly below that mark. Heck, falling less than 1/2 point on two days where the Dow falls nearly 400 marks being near a bottom in my book.
In the meantime, from now until January, we still have the Sept. earnings report (with the first evidence of sequential revenue growth--fingers crossed). We have the iMac release, the announcement of the new Pro line, and most likely significantly more details concerning the "consumer portable" to be released next year. Plenty of reasons to see AAPL's price in the five months from now 'til then appreciate into the 40's.
As far as the August options go, I'm deciding against the idea. While I'm pretty good predicting medium-to-long term, my ability to predict the irrationality of the short-term variations in investor sentiment is notoriously off the mark.
Andrew |
