10:36 am (Hawaii) AAPL earnings are out: $5.25 for Q3 revenue vs. 5.05. EPS $6.40 vs. 5.37 estimate. Shares now 352.49, up from the 343.02 close. On a big green day like this, it's not a certainty that AAPL will lose these afterhours gains right away.
50% retrace of the AH gain is at 348.21. 38.2% retrace (Fibonacci) is 349.05. (AAPL topped out a few minutes ago at 353.49.)
Update 10:47 am (Hawaii) Taking a second look at AAPL. The minute after shares hit HOD (353.49), AAPL dropped to 347.92, easily reaching a 50% retrace of the AH gain. Missed the opportunity. Currently trading at 351.50 with volume tapering off.
Update 11:11 am (Hawaii) AAPL was at 320 just days ago. The run to 337 was stellar. But the resumption to this new post-earnings level 350 is amazing, though not shocking. Shares are still off the all-time high (365), which leaves room for ... another 15 bucks up? Tough call. No catalyst in the immediate future.
Being 100% cash leaves me with plenty of possibilities, but frankly, I don't see a lot more upside in a lot of things right now. Silver has made its run. AAPL, too. Crude oil is at 111.43 right now and I emptied out of WNR at the wrong time with a loss (Monday). Think I'll be more of a spectator until next week, especially with spot silver. If there are shenanigans to come tonight, tomorrow or next week, I'd like to see it as it happens via the Globex/Comex live quotes.
Update 11:50 am (Hawaii) Spot silver at 45.23, which converts to SLV 44.10. However, SLV is trading at 44.20 afterhours. It's going to come back down to the conversion price. Always does.
AAPL tearing it up, now 356.24. A huge buying spree spiked it from 350 to 354 a few minutes ago. Missed that train. I can see AAPL trading up again tomorrow, but eventually selling off back to 349 and consolidating for awhile. I trust AAPL more than SLV at this point.
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