To all: I don't like AAPL's price action either, but I've come to accept that, for the time being, it's going to be manipulated by Market Makers who have more to gain by screwing call option holders than they have to lose by selling down AAPL stock.
Hi Soup.
I don't think we can really blame the MM's for this recent move. The market in general looks somewhat overbought to me. Everyone is talking about how the market is gearing up for another big rally, so I'm skeptical. In fact, I went from a 80-20 stock/Money market percentage in my retirement fund to a 20-40-40 stock/bond/mm percentage over the weekend. I've been bullish for a long time, but now I'm nervous.
Apple took a hit after the less than stellar (i.e., dumb, just plain stupid, or just plain manipulative) downgrade after earnings. It sold off then recovered, and now may be testing the recent lows. This action seems recently typical of this stock in the month or so after earnings.
I'm probably going to stay on the sidelines for another week or two and wait for the market to sort itself out. I suspect we will see a nice rally in anticipation of good sales reports later this month, unless the market tanks. Therefore it is probably a good opportunity to take a long position or just get back in the stock. Even if the market does tank, Apple will probably do well from this "value investment" position if the sales are good.
JMHO,
Sam |
