Apple Inc. Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Technology Stocks : Apple Inc.

AAPL 277.23

-0.3%

Dec 9 3:59 PM EST

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: HerbVic who wrote (21285)	12/18/1998 12:57:00 PM
From: Golden Bear	Read Replies (2) of 213176

Herb, a group of short sellers have been slowly covering their positions for the last 3-4 days. Watching Level II action, the same market makers play both sides of the spread. When it starts to get away from them, they look for resistance points i.e. 35.00 to make a stand. When the buying cools down, they jump inside the Ask to move it down a bit, then start buying again (probably to cover) until new buyers jump in (then they jump back to the Ask and make a stand until the buying pressure slows down). This process has repeated itself most of the week, the exception being there are new buyers in the market today. Last week, these market makers were willing to sell a lot of shares to drive the price under 33. This week they are much more interested in buying (covering) than pushing the price back. I suspect much of this recent stock activity is related to the recent trades in Dec. Puts and January Calls (just my opinion). I hope these traders are backing off as the Earnings Release approaches. Would not surprise me to see $37.00 next week. After that, who knows?

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next