Tuesday, January 18, 2011

AAPL Lower on Medical Leave for Jobs...NQ Futures Lower...Point to a Lower Open...

2:00 pm ET - AAPL recovers from lower opening following Jobs medical leave announcement...watch for earnings after the close... 

Earnings
Tue – AAPL, CREE, IBM, LLTC
Wed – EBAY, FFIV, GS, STT, STX, XLNX
Thu – GOOG, FCX, ISRG, MXIM, SBUX, UNP
Fri – BAC, GE




BMO – ES -1.25 and NQ -17.50 futures are slightly lower 15 minutes before the open in pre-market trading and point to a flat to slightly lower open on the ES and a lower open on the NQ due to the AAPL announcement…

TLT is up 4 cents and the Euro is up 130 pips in premarket trading…

AAPL is lower after news that Jobs will step down on another medical leave.

NDX leaders only GOOG is higher in pre-market trading…

Dave’s Insight for Monday: This Friday is January options expiration. Follow your rules to exit front month expiration. Earnings begin in earnest this week so follow your rules for trading over earnings.

SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220

Quoting Down – AAPL, FAST, HUM, CRM, MA, GS, SINA, FAS, SNDK, PNC, CHL, FWLT, SLB, SWN, UNP, CAT, SPG, ILMN, XLNX, JOYG, ADBE, NFLX, AMZN, NVDA, AKAM, MRVL, WFMI, BIDU

Quoting Up – CERN, GOOG, INFY, WYNN, VOD, KLAC, FDX, MCD, VMW, BA, CMG, MOS, LVS, FCX, POT, CREE, PCX, TLT, VECO, TIE, CLF, GENZ, RIMM, QCOM, SYMC, CTRP, ALTR, LRCX, TEVA
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5 comments:

Unknown said...

Don't know if I'm right, but I pulled my tight stop this morning before trading, because it would have triggerd at 433. Now it's back up to my prior stop (1413 hours). Got lucky. Stops don't do much to help weekend announcements.

January 18, 2011 at 11:14 AM
Anonymous said...

Woo Hoo!!! I got an A+.

Much thanks to your unrelenting teachings.

Thank you so much Dave.

Don

January 18, 2011 at 4:15 PM
Scott Avery said...

Good News Dave, I had written you in first of the year saying I wasn't yet in profit with my paper trades that were doing exclusively the four day material. But I kept going. Now after 5 weeks (30 trades) I am up around $5,000 on my 50K portfolio. I am doing strict money management risking exactly 1% on each trade. I also am doing my real account but because it is smaller, it may take more time to catch up to the probabilities. Still, any advice (from you or others) as to what to do when the market changes and heads down? Include a higher percentage of down trades, or do more bounces instead of breakouts? It seems that breakouts follow through much better this year in an up market more then previous times in sideways markets.

January 18, 2011 at 4:38 PM
Unknown said...

Just for clarification, I was speaking in the first comment of the day about my AAPL and the $433 should have been $333. After pulling my stop this morning I embraced volitility and put on a sell limit at $350 for my entire stake and added a buy limit at $320 GTC ext. I have seen some pretty amazing things in the afterhours with limits on earnings announcements. Got out of trouble with RIM once doing it. So today, I not only didn't stop out at $344 at 9:30 this morning, I sold the lot at 4:38 this afternoon at my $350 limit. Now I can wait for the next signal. Is this a great market or what! Thanks for the tools, Dave.

January 18, 2011 at 5:20 PM
Judy said...

Greetings DAVE! Thanks for another great post. I was sorry to hear about Steve Jobs, but do believe Apple is a great performing company at this time. Hopefully this is simply a needed break so he can be more focused on Apple TV or something new and exciting, and not really, really bad news. In any event (or other news), this could be one wild and rowdy expiration week. I'll be following your posts. Thanks for all you do! Happy trading, Judy

January 18, 2011 at 6:35 PM

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