Retail dumped, now what?
Updated
Retail has capitulated on the apple stock it seems. Volume looks climaxed, support seems to be shown, and more importantly, the gap was filled. This entire dump is pretty crazy
I think apple announces buybacks and iphone event within next two weeks, which will push the stock to around 118. Then sideways and up until their earnings beat Oct 30th. Surveys show that over 50% of iphone users are planning to upgrade this year, so revenue is going to skyrocket.
Not trading advice. I'm long 400 shares with C/A of $95, end of year target is 135 conservative, and 150 bull.
I think apple announces buybacks and iphone event within next two weeks, which will push the stock to around 118. Then sideways and up until their earnings beat Oct 30th. Surveys show that over 50% of iphone users are planning to upgrade this year, so revenue is going to skyrocket.
Not trading advice. I'm long 400 shares with C/A of $95, end of year target is 135 conservative, and 150 bull.
Note
So today at close, I sold a majority of the shares I'm holding at 114.9. I still have a bunch (20+) 110/120 spreads open for 12/18, just in case there is still upside left. I do think they beat earnings, but the stock was too beaten up, too fast for my risk tolerance.
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