As Expected We Bounced This Morning

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September 10, 2008

I sold my AAPL and RIMM calls into the strength this morning for a gain of 20% in the RIMM calls and a gain of around 12% in the AAPL calls. AAPL is acting squirrelly, but I still expect AAPL to close around that 10:00 am bar of around 152.15. For all you Apple Heads, I’m not a buyer of AAPL intermediate term. It does not look good. I’d be concerned for AAPL to break its July lows around 145. After that, it might setup another buy point. That goes for the general market as well.


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