Does today's melt-up have anything to do with the Super Bowl? Friday's payroll numbers? The lack of another two-week-long street riot in the Middle East?
AAPL opened up at 348 and rose to 353+ today. Currently sagging a bit to 352+, trying to hold on to gains. I slept through it all like a big baby. It's 9:47 am in Hawaii, a cool 73 degrees and partly cloudy. Decent sleeping weather, a chance for me to hold on to all of yesterday's Super Bowl caloric gains and increase that old body fat percentage. If only making money were so simple.
I chose not to go long AAPL on Friday, even though I had a last-minute AH limit order buy around 346. There's just about absolute confidence in the reasons why AAPL should and will go up, countered only by one undeniable factor (Steve Jobs' health). I've been reading my recently-arrived "iCon" book and it's been as good as I'd hoped.
And AAPL is at 351.88 as I type. How high does it go as the Verizon iPhone release day nears (Thursday)? My guess is it hits 357 (intraday high of a couple weeks ago) at the very least. So why didn't I open a position on Friday? Just playing it safe over the weekend. MLK weekend was still on my mind. But if AAPL loses half of today's gain, I'll start "bargain" hunting around 349.88 or so.
Updated 1:06 pm (Hawaii). Wanted that 349.88, but AAPL bottomed at 350.42* 45 minutes before the closing bell. Bummers. I did open a position (351.82) shortly after the bell. It's all about the Verizon Iphone these next few days. Nothing quite like video and photos of long lines weaving through city streets and malls to convince the nonbelievers. Where this position goes, I'm on a wait-and-see swivel. Lots of room to go up at this all-time high level. Intraday all-time high is 357, so that's one of the focal points to watch.
* corrected price (I had listed 351.42 as the low)
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