AAPL will get slammed!!!!
AAPL closed @83.93
I doubt this stock is done going down. It's going to 75 or below. At least the Fast Money guys agree with me.
The charts are showing that's where AAPL is headed, but to 78 first.
There probably will be some type of countertrend rally after the morning selloff. If you don't have a position yet, i suggest you wait till the afternoon to short. The stock could rally back to $85 or so before the next leg down.
You can buy March near-the-money puts instead of the stock.
Good luck.
I doubt this stock is done going down. It's going to 75 or below. At least the Fast Money guys agree with me.
The charts are showing that's where AAPL is headed, but to 78 first.
There probably will be some type of countertrend rally after the morning selloff. If you don't have a position yet, i suggest you wait till the afternoon to short. The stock could rally back to $85 or so before the next leg down.
You can buy March near-the-money puts instead of the stock.
Good luck.
posted by beanie11111 | 1:28 AM
126 Comments:
hey, if the stock opens slightly down or slightly up, short it!!! If it gaps down too much, wait for entry.
We will likely selloff on Wednesday and get some reprieve on Thursday. Follow by another down day on friday?
stay tuned...
ICE got at least another 12 point drop comin your way!!
Many of people, including myself, believed that the Chinese stock crash was engineered. http://buttonwood1792.blogspot.com/2007/02/understanding-china-market-decline.html
Those who believe such would also have to believe that our own government can engineer a market crash as well. And yes, they would also have to accept that the "Plunge Protection Team" is real.
AAPL:
Could Steve Jobs be in big trouble?
http://biz.yahoo.com/ap/070227/mcafee_stock_options.html?.v=4
Beanie,
Are you sure correction to continue on US markets today?
It does not look like European markets will go down further today.
Some Chinese (Shenzen?)index reversed back up, too.
Thanks.
Dimitry
Dimitry,
A crash like selloff we have on Tuesday does not reverse itself in one day. Any technical chart trader can tell ya that.
We're going lower this week. It should get better by next Tuesday.
I also expect a down day this Friday because traders fear a Black Monday.
Somebody told me that one of the biggest factors that can continue downtrend today is that US private investors who invest in stock market through funds could see the downfall and place orders only in the evening of 27th, thus funds will sell on 28th fulfilling them
I am wondering if it is correct? Any other important factors welcome. Trying to learn.
Thanks
Dimitry
Right on Damitry, thats what CNBC was reporting yesterday evening, that a huge back log of sell orders has accumulated, waiting to be executed today.
WOW!!Dow futures up 105
Bungee jumping???
AAPL:
short it, people!
Bill Cara says BS to the public excuse for the drop - the backlogged order thing. He says it was margin calls.
http://www.billcara.com/archives/2007/02/caras_daytrader_bull_board_wed_14.html#more
JC
January was record month for margin lending (even more than January of 2000). When margin calls start, the selling will continue. Expect BIDU, ICE, CME, and other high profile stocks that were purchased with margin to drop like rocks. Undoubtedly will be overdone, but may easily see BIDU at or below 50. IMO
What are you guys shorting today, besides AAPL?
Are there anybody who think that the downfall is over and that we are starting a way up today and will close all green?
Found this:
S&P 500 futures on Wednesday rose 10.80 points to 1,406.10 and Nasdaq 100 futures climbed 14.25 points to 1,764.75. Dow industrial futures rose 75 points to 12,255, and had been up nearly 130 points earlier in the session.
Any thoughts?
Dimitry
They'll run it up on the open to open some short positions...then watvh out below!
Dimitry I share your nasty feeling. I'm paralized right now, don't know what to do.
I personal experience has been that the downturns in market a day before the end of month are usually followed through on the end of the month.
This uptick is providing a good selling opp other than that nothing to do but sit back and watch the tape guys.
I shorted GS this morning
They'll run it up on the open to open some short positions...then watvh out below!
That seems to be happening right now.
Thanks Anon, I think that is the best advice for people like me who have not seen something like this before.
Crash on the way
GS:
going to 185
Chicago PMI down, watch out below!
Thank Beanie for GS
beanie.
for the march IN THE MONEY puts..
would you say BUY OPEN MARCH 85's PUTS?
is that what you mean? and they expire march 17th?
i am thinking of doing this. thanks
Ben about to speak. He'll spew all sorts of BS to help prop the market...watch for a pop.
Man, the DJI is like a ping pong ball.
anon,
yes march 85 puts AAPL
beanie,
thanks.
i just purchased a few march 85 PUTS for appl. I closed my AAPL long position this morning to get out and lock in a small gain.
if you are right then when should i sell my march 85 puts? maybe when the AAPL hits the high 70s?
thanks!
New home sales way down too...unbelievable, markets ought to be in freefall...
Wed - Feb 28 - 7:30 a.m. - SELL SHORT AAPL if it hits $83.40 - $83.20 today.
=================================
Symbol: "AAPL"
Trigger Point: SELL SHORT Today if it hits "$83.40 - $83.20".
5% Profit-Taking Target: "79.23"
10% Profit-Taking Target: "$75.06"
Stop-Loss Target: "$88.40"
Time Stop: Wed - Mar 15 (at the close).
Sector: Technology
Industry: Personal Computers
------------------------------------------------------------
Short Sell Stock Picks
www.shortsellstockpicks.com
In my 7 years of trading, I have never seen such huge disconnect between the index futures and the indexes themselves.
LMAO @ APPL below 80 bucks..
in your dreams !
Man!! I have never seen Bernanke so nervous. His voice is just jittery.
Mkt up 81 poits, so let me guess all the Shorts on this board are you in damage control mode?
This rally will fizzle after Helicopter Ben is finished speaking.
The disconnect between index futures and the indexes themselves is perplexing. Any body has any explanations?
50 minutes from a BeanMan update... I thought we were "rockin' it all day over here?"
That's what I came for at least. What's your thoughts on volume in this "recovery" people?
Yesterday's drop was over reaction to nothing. Time to pick up some bargains!
GS, CME, BOT, MS...good buys?
Gosu where can you get a current futures quote? Thanks
The volume is stupendous!!
Futures (delayed)
http://quotes.ino.com/
don't get fooled by the rally. It will go down is my opinion.
AAPL shorts is still good.
While you're at it, short GS too. You can buy puts there as well.
Hi Beanie,
Some quick thoughts-Please the market seems to bouncing back pretty hard.
GS:
Remember the nonbelievers of the ICE at 160 as a short. They had the rug pull right under them, hard.
GS looks to have at least another 15-20 point drop from here.
Beanie,
With ICE, I agreed with you. ICE is an expensive stock, with a PE of 62 and it had tripled in 8 months.
But GS is the king of brokerages, with a PE of 10. I don't think it will go down from here.
Gosu
I think GS will make $ no matter which waythe market goes. Don't they make more on derivatives?
I will send you not one but two cheeseburgers if GS sees downwards of 190.
single digits on JADE was a gift yesterday still got a chance to BUY...
HUGE Mo-Mo and a very cheap stock relative to forward EPS potential and coming NEWS!
There is no computer glitch, just alot of margin selling yesterday. Lots of big boys got caught off guard, so the media helps them out by using computer glitch excuse. imo.
Bob Pisani said this morning that he 'checked' on the computer glitch and it appears there is no more glitch. roflmao!!!!
Even Cramer bought into the computer glitch lie. He wants to save his cramerites?
It was a mini crash yesterday; and crashes always create order flow imbalance.
There are surely much better reasons for the selloff than merely computer glitches. Computer glitches in this day and age????
Whatever it is, this correction is very short term. I'm just hoping we get another serious down day to cover my shorts.
we'll see what happens....
I like ICE And NYX as shorts better here, on valuation. GS is always going to be "Golden" so caution is warranted there. The broker I've chosen as most likely short is aptly named, I think: Bear Stearns.
Beanie, are you changing your stance now. you are sounding more positive than negative. i must say i like what i'm hearing though.
The E-mini futures are expiring in about 2 weeks. My experience tells me that the E-mini futures should now be closely tracking the actual index.
If you look at the quote for it, it is up 18, while the actual index is up only 10.
Same with Dow, the futures are up 120, but the index is up only 70.
Something tells me that there are too many orders the exchanges are trying to fill.
Beanie? where's the disconnect?
Not to be blasphemous, but these are the days when you think to yourself: "WWJD?" As in "what would Jesse (Livermore) do?"
"You never know til you bet!"
Do you notice that the world markets are still selling off??????
ERROR? or what:
Click here to see MSFT quote and see the days range. It is 27.92 - 100000.00
My broker software is showing the same thing.
Just an interesting trade.
I truly believe we are not done selling...
Will i be proven wrong? Stay tuned...
beanie11111 said...
Do you notice that the world markets are still selling off??????
That is true Beanie. I can't wait for the drama to unfold in the last hour.
May i interest you in a GS short?? If this thing cracks, it will take everybody down with it.
AAPL still a short. Do you have conviction to add to your short on the way up? Huh, do ya??
Look you here, GOOG doesn't even look strong. Something about the market is about to give, is my opinion.
Cramer is a numbnut. He's gotten his lemmings in so much trouble already when he told them to buy buy buy before the crash. lol
NYX probably on its way to 75-78.
do you believe?
I just don't believe a crash can be settled that easily just because some media numbnuts say there was a computer glitch.
You mean to tell me there are computer glitches all over the world??? They sure are selling off.
Anybody who believe it was due to a computer glitch should not trade the markets. Fools of the first degree!!!
When GOOG firms up, then i know the market is done going down. Right now, it's got krytonite.
AAPL:
You know, there is a good chance that Steve Jobs will be ousted from the company. After all, he benefited the most out of all the people ever accused of options backdating. The McAfee former lawyer is now being charged as a criminal. He in fact didn't benefit much from options backdating compared to Jobs. Jobs also had a chronic history.....he likely did that too at Pixar.
Stay tuned....
VIX is above 15 again. I think market is getting nervous again.
JASO (a great solar stock) just filled its gap at 17.55 and is moving up! BUY!!
Solar.....
These have to be looked at as 'Energy Plays'
And they will be good holds in the downturn to come.
JASO is a killer one, just getting no love, but I like now that it has filled its gap.
West
Beanie, ready to review some of your previous recommendations at this new level?
Does today look like good entry points for your Alt Energy plays? SPWR, STP, ESLR, WWAT?
ERTS, CRM, and EXEL? All long term Beanie recomendations that have come in nicely.
and my god look at COKE + 10%! what the heck is that saying about the market to come!
YESS!!! Thanks for whosoever you are for reminding me on JASO!
BOT 1000 JASO @ 17.57,
SLD 1000 JASO @ 18.37
Thanks again Buddy!!
I just bought ESLR, a solar play.
10.05
i think West deserves full credit for your Jaso trade. nobody knows alternative energy stocks like he does!
g
ESLR is a longer term play for me.
I'm gonna start accumulating alternative energy plays as i believe they will lead the next bull market.
learn to play the gaps, dude. you should have bot ESLR at 9 1/2 today!
GS is setting itself up for the eventual fall.
Count on it!
A morning big gap up tomorrow would be sweet.
I'm sharpening the knife right now...
lol
Sharpening the knife? I thought you were already way short GS?
What's da dealio?
busted... LMAO!!
beanie11111 said...
I shorted GS this morning
Wed Feb 28, 09:43:00 AM EST
GS:
The rain is comin.....
http://www.duchessathome.com/music/rhythmofthefallingrain.html
Thursday? Friday?
You can run but you can't hide!
-------
Gotta go. I'll see y'all tomorrow.
jakegint,
I have shorts in GS. Only wetted my feet there today.
Sharpening knife figurative for the piling in of more shorts when the time comes.
GS: If it gaps up big tomorrow, it's chop chop time!!!!!!!!!!!
Who are these clowns that are saying the financials are not flashing warning signals? How these people get to manage money????
Any overbought stocks on anyones radar that looks to be a good short here. TIA
I must say, this blog has been a much more pleasant place to be today without gosu and the smiling man.
Goldman Sachs
This would be the first time that the stock, of which the treasury secretary owns about 750 million dollars worth, would be going down.
Just look at CSX - jumped from 13 dollars to 36, when John Snow became the treasury secretary.
Look at Halliburton, when Dick Cheney is the vice president.
You may be right beanie, but I think shorting GS, the premier brokerage company, through out the world, the largest hedge fund in the world, the broker for most hedge funds in the world, with a PE of 10, going down is little more than risky.
Volume spiking again. Lets see what happens in the last hour of trading.
is siri a buy here at 3.6?
SIRI is dead unless a merger rumor pops up...downside below 3.
GS:
This is really the last post before i really leave.
This GS bastid is showing cracks today.
I have a stop short set......
Below 200, you gotta pull that trigger!
If/when SIRI goes below 3, i will buy some leaps and hope for an announcement...
You may be right Beanie, I am not sure.
But if Goldman Sachs goes below 190, then I think the stock market will go down another 3 or 4%.
Just like when Microsoft sneezes, Nasdaq catches cold, when Goldman goes down, S&P can't be far behind.
Just took a look at SIRI 2.5 Jan 08 and 09 calls. Cheap!
Late PM buy programs kicking in now...
GreenBeanDog feeling the heat on those shorties. Burn shorties burn!!
Hey, what happened to marktherat
JASO on fire!
Thanks West!!
a two point move in a $10 stock in as many days ..
do the math...JADE
Also if you want to play the solar action check out an undiscovered gem here with tight float and about to Boom!
ASTI @ 4 bucks...
Good Luck Everyone!
I agree on ASTI. I think its got explosive potential. The chart looks perfect.
JASO is making me smile once again!! :)
Anybody have a feeling the market is going down tomorrow? Anybody thinking of shorting NYX or ICE? Thoughts on tomorrow please. SKI
ICE just hit 151 on very heavy volume
NDAQ could announce it's buying ITG. That'll twist everyone's apple.
z-stock
There's huge pressure on NDAQ to buy something.
KEEP your eye on NDAQ CALLS
I see RSI 30 and I'M in.
CME calls working just fine.
I'm still on board with ICE trapped between 50 and 20 day.
I like these 20/50 traps.
My thoughts on the market:
I think market is set for a 3% more correction by mid-march.
I will start buying my favorite stocks on or after March 16, 2007 (options expiration)
Until then, I will be strictly day trading.
Gonna see a classic bear flag form out of this then another large wash out.
Gonna see a classic bear flag form out of this then another large wash out.
AMGN CALLS
AMGN talks to GS in the morning.
Hoping for a 3% bounce, UP
ISM report 3/1/07. estimate 50.0. I don’t know how the market will re-act.
z-stock
What do you guys make of the 50 point drop in Dow in the last 40 mins.
BEANIE,
APPL DID NOT GET SLAMMED. THE PANIC SELLING WAS PARTLY DUE TO A COMPUTER GLITCH AT DOW JONES. YES THE MARKET DROPS EVERY NOW AND THEN, BUT THIS IS NOT THE BIG MARKET CORRECTION YOU'RE PREDICTING. AND THE MARKET WILL RECOVER IN TIME JUST LIKE THE LAST TIME. YOU ARE NOT THE STOCK GURU AS YOU PORTRAYED, YOU ARE JUST ANY OTHER DAY TRADER. WORST YOU'RE DECEITFUL. ONE DAY PREACHING BULL MARKET, NEXT DAY PREACHING DOOM.
I have a feeling that asia will be green tomorrow, and europe too, after they will see that US is green...
Dimitry
Anonim,
I am not sure if you should blame Beanie, time machine is not invented yet LOL
Dimitry
You shorties will get your ass kicked tomorrow. The market is recovering. Just wait & see. You should know when to quit. You'll gonna lose big money!LOL
You shorties will get your ass kicked tomorrow. The market is recovering. Just wait & see. You should know when to quit. You'll gonna lose big money!LOL
VIX is still too HIGH to call this a straight up market. Plenty of good stocks to short.
z-stock
Gosu, my take on the 40-50 point drop in the last few mins was that people were booking todays profit as it was month end. nothing significant. what is signifant is that the dow almost went up 100 points and most of the stocks were green today.
i dont know why others are blaming Beanie, we did not see a correction, WE JUST WITNESSED A CRASH and he tried to warn us ahead of time that this was coming. what more can you ask of him. Had you gone all cash since Beanie first mentioned the correction you would have been able to buy almost all stocks at a lower price today. so please quit the negativity.
Well, thanks to Beanie's numerous warnings, I was absolute 100% cash for the past week.
Thanks again Beanie.
Beanie, something you said earlier today didnt make sense to me, just thought i'd bring a different perspective to your views. you said "Anybody who believe it was due to a computer glitch should not trade the markets. Fools of the first degree!!!" - very strong words 'fools'
now why do you believe that computers are so reliable. everyone knows that we don't have a single day (not even one) when someone is not at the receiving end of in incorrectly executed trade. Why Gosu told us that he saw MSFT at 100000, if thats not a computer glitch then i dont know how else to proove to you that you might have seen one yesterday. after all we had huge selling pressure, its quite possible that some system failed after all its just a machine with software running on it programmed by HUMANS. ANY USER OF MS WINDOWS knows what i'm talking about, the dreaded Blue screen :-)
as i said just a difference of opinion. naturally it didnt all fall due to the computer glitch but the glitch could have created panic, added fuel to fire and caused the CRASH.
Yeah, and it not just my broker. Just type in MSFT in google, and see the high of the day.
While the rest of us are recovering our paper losses today, Beanie and Gosu got crapped on. Couldn't ask for a better day!
Mark
Sure would be nice if some of these anonymous carrot heads had the cajones to sign in with their invective. Beanie's "deceitful" huh buddy? What do you call anonymous vitriol in your neighborhood?
I mean, after you've asked someone the definition of "vitriol" I mean.
For the conspiracy theorists:
One interesting thing about this "fake" 100K price for Microshaft today?
It destroys the chart. Daily, weekly, monthly, you can't get much of a fix on the Shaft now.
Glitch? Hmmmmmm....
Yes, I think beanie can really get too excited sometimes. His warning about market corrections has been in the minds of many stock analyst, pundits and traders like us. So I think a difference of opinions from me and others are in order to put things in proper perspective. And here I will sign my name like I always do. I chose not to short, because it is not my game. I do not have enough money and enough time to comb the internet for every bits of information. So I chose always to buy long. And yes I do understand how beanie plays both ways- since he is a very skilled day trader. And yes I do not blame him for any miss predictions or wrong calls.
I can understand why some people can get upset by some of his calls. Like today: appl will be slammed?!
Of course I do not take his pronouncements like a gospel, but some people might take a cue this and act accordingly. Of course it's
JUST MY OPINION.
GVP said..."I can understand why some people can get upset by some of his calls. Like today: appl will be slammed?!
Of course I do not take his pronouncements like a gospel, but some people might take a cue this and act accordingly"
You're right, of course, GVP. Not really fair to slam him on his calls. No one is right all the time but yet can still be right eventually. Slam him on his personality traits, demeanor, attitude, biases or voice an opposing view point but the fact of the matter is...you get what you pay for..LOL
Rambo
RAMBO
DOW FUTURES ALREADY DOWN 50. THEY WERE DOWN 80 ON TUESDAY, PRE-MARKET.
yo beannie
you said short AAPL...
i shorted it now the damn thing is up 2 points..
i sold my long position listening to you..
what do u know.
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