DaviesTown.com/blog

[Posted @ 13:27:20]

13:28:42

Woo. SBUX earnings got me excited. I’m now waiting for AAPL to release earnings and I’m quite excited. I don’t even have positions in these two but SBUX’s comments are certainly helping my convictions a few days ago. I was beginning to think my beliefs were wrong but I’m feeling better now that those beliefs have been reinforced by SBUX. Thank you SBUX (current down 10.96% in after-hours trading @ $15.76 @ 13:30:06 PST)!

“The current economic environment is the weakest in our company’s history, marked by lower home values, and rising costs for energy, food and other products that are directly impacting our customers” says Howard Schultz, chairman, president and CEO of SBUX.

13:31:07

Boo… AAPL beat earnings by quite a bit. Records across products in units sold. I suppose people are holding back buying coffee to buy iPods haha. (AAPL up 1.13% @ 162.32 @ 13:39:00)

13:36:15

MSFT reports tomorrow. Looking at the trend across technology companies, MSFT should do fine tomorrow.

.. time to go do my math final.

Following smart money is, for the most part, a sure bet =) Yesterday, my greed prevented me from closing a winning position, that fortunately, accelerated towards its resistance today. I should take note of of such undisciplined behaviours.

Anyways, FXI position was closed near the 137.70 fib level as laid out in a previous post.

A quick check at AAPL’s options activity indicates put selling (either naked put shorting or closing put positions) so I’m going to be a happy by-stander for this one. Although, I think there is a high probability AAPL will fall since its now trading near its 38.2% fib level at 144.59. Oh well, money says it won’t, so I’ll sit out.

CEPH seems to be ready for some shorting though… Major resistance is at 66.75 (its 50.0% fib level). In fact, it’s already sorta near that level. I won’t be posting an analysis but there’s a good chance it’ll bounce back down when it reaches near 66.50 (which is sorta now). Target close price of ~$62.5 or 58.00 depending on how fast it drops. Stop at 67.50.