In a further attempt to not really go very far explaining,,,,
I went short AAPL as Steve Jobs took the stage today at Macworld. This was easy enough and unless the market weakens (and I need the hedge), this is a 1-to-3 day swing trade (if the drop is quick, I'm not after more than ~10 points from 174 - if it is slower to decline I might strive for more).
Traders know (2well) why it may decline. It ran up prior to the event, there was no major new product announced and there is a history of selling-the-news on just this event (x-out the new iPhone launch year anyway; on that go-round it did not exactly drop).
But I'll be more interested if the stock does not drop. In that case I'll presume 15-25 points upside is imminent; especially considering how frail Steve Jobs did appear.
That would take it to the area of old highs, which sooner or later is far from out of the question; even if it ultimately fails there. Even if not.
The point is that if they cannot beat it back now, then nothing is likely to stop an accelerated rise in the near term.
Twitter feed is on right for details>>>
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