AAPL trading wildly the last few mins!!

[ScalperJoe]

Quote from S2007S:


Analysts took note of the smaller crowds. "It is cold out but it's a surprise that there's not many people showing up for the launch," said BTIG analyst Walter Piecyk, who had visited stores across New York. "They had Verizon store clerks prepared for the masses and the masses just weren't there."

AT&T isn't going to let their customers go that easily. Perhaps Verizon had lackluster sales due to the early termination fee. The sharp drop in AAPL was probably due to the hype surrounding the Verizon stores, and when there were no lines, traders jumped all over it. I didn't buy AAPL, but I am long T.

From the web:

"If you're still under two-year AT&T contract when you decide to switch, AT&T will charge you an Early Termination Fee (ETF), a penalty for canceling your contract early. AT&T's iPhone ETF is $325. That fee is reduced by $10 for each month you've been under contract (e.g., if you've been under contract for 6 months, the ETF is reduced by $60, to $265). If your contract has expired, you're not subject to an ETF, so you'll want to check your contract status with AT&T before beginning the switch."

 

[ElecEquity]

Quote from Bolimomo:

I am not playing stock genius but was only responding to the comment about "the stock down 4 dollars it is a huge buying opportunity". I read it too quick and missed the sarcastic tone.

From my experience, a sharp drop intraday very like triggers a sharp bounce - as seen on May 6, 2010 Flash Crash and as seen today. The million dollar question is: how low is "low".

Do you trade frequently? Because if you did you would know that sometimes sharp intraday drops trigger sharper intraday drops. Keep buying it. Buy more. Buy more. It HAS to bounce. Right? It will...keep holding...until you get tapped on the shoulder.

And you're done.

 

[BwPirt]

http://www.cnn.com/2011/TECH/mobile/02/10/verizon.iphone/index.html?hpt=C2

This could be a reason.

 

[Bolimomo]

Quote from ElecEquity:

Do you trade frequently? Because if you did you would know that sometimes sharp intraday drops trigger sharper intraday drops. Keep buying it. Buy more. Buy more. It HAS to bounce. Right? It will...keep holding...until you get tapped on the shoulder.

And you're done.

I don't know why I seemed to be attacked again and again on my comments.

Here is my AAPL trade on the hick up. I didn't buy the low. I wish I did. But I shorted the bounce from the low. A $1 scalp in 15 seconds. I haven't seen that kind of quick moves since May 6 last year. Opportunities don't knock too often. When it does, take advantage of them.

I am not a yahoo sim trader. I trade for a living. Of course I manage my risks. Today I didn't want to go all out not sure what's going on.

 

[atticus]

Quote from ScalperJoe:

AT&T isn't going to let their customers go that easily. Perhaps Verizon had lackluster sales due to the early termination fee. The sharp drop in AAPL was probably due to the hype surrounding the Verizon stores, and when there were no lines, traders jumped all over it. I didn't buy AAPL, but I am long T.

From the web:

"If you're still under two-year AT&T contract when you decide to switch, AT&T will charge you an Early Termination Fee (ETF), a penalty for canceling your contract early. AT&T's iPhone ETF is $325. That fee is reduced by $10 for each month you've been under contract (e.g., if you've been under contract for 6 months, the ETF is reduced by $60, to $265). If your contract has expired, you're not subject to an ETF, so you'll want to check your contract status with AT&T before beginning the switch."

Joe, every carrier has an ETF. The stock dropped just before the Piper Jaffray story hit the wires.

 

[ScalperJoe]

Quote from atticus:

Joe, every carrier has an ETF. The stock dropped just before the Piper Jaffray story hit the wires.

For clarification, are you implying that the stock may have dropped due to some other rumor/news, perhaps relating to Steve Jobs? Volume today was much higher than normal.

 

[atticus]

Quote from ScalperJoe:

For clarification, are you implying that the stock may have dropped due to some other rumor/news, perhaps relating to Steve Jobs? Volume today was much higher than normal.

No. I'm of the opinion it had to do with the VZ news related to weak foot-traffic.

 

[Maverick74]

http://www.nbcbayarea.com/blogs/pre...ompted-by-Jobs-Health-Rumor-115749889.html?dr

 

[Cdntrader]

Quote from Maverick74:

http://www.nbcbayarea.com/blogs/pre...ompted-by-Jobs-Health-Rumor-115749889.html?dr

wsj out tonight with piece detailing Jobs working from home.

I think the VZ story shines the light on the coming competition for smartphones and tablets. They all look pretty competitive. Android phones definitely have the buzz goin.