The iPhone company unveils its third-quarter financial figures on Tuesday and investors will be interested to find out how many of the company’s signature iPhones sold during the period. Whatever the Apple sales numbers will be, unless a miracle happens I expect them to push the market down on Wednesday, as they either disappoint or they create a final top for the week on Tuesday, if they are positive (and then the news gets sold of anyway starting on Wednesday).
I am estimating that when the market opens tomorrow it will first go up higher than Monday and then down, that is where the selling short idea comes in. If not I wait for this to happen Wednesday.
On the earnings front, it will be a busy week as more than 100 companies in the S&P 500 index report their results. Notable companies on the schedule include Morgan Stanley (MS), Halliburton (HAL), International Business Machines (IBM), Apple (AAPL), Microsoft (MSFT), Verizon Communications (VZ), Yahoo! (YHOO) Chipotle Mexican Grill (CMG), United Technologies (UTX), Boeing (BA) Coca-Cola (KO), Qualcomm (QCOM), General Motors (GM), McDonald's (MCD), Starbucks (SBUX), Amazon (AMZN), AT&T (T), Visa (V), Biogen (BIIB), AbbVie (ABBV), and VF Corp. (VFC).
Source: www.thestreet.com/st...gs-housing-data.html
Entry: 2130 (or better 2132)
Stop Loss: 2135
1. Target: 2116
2. Target: 2085
UPDATE, 3 DAYS LATER:
Both 1. Target and 2. Target hit, dead on :) Even exceeded it. Low today was 2076.6. (2. Target was 2085)
I am estimating that when the market opens tomorrow it will first go up higher than Monday and then down, that is where the selling short idea comes in. If not I wait for this to happen Wednesday.
On the earnings front, it will be a busy week as more than 100 companies in the S&P 500 index report their results. Notable companies on the schedule include Morgan Stanley (MS), Halliburton (HAL), International Business Machines (IBM), Apple (AAPL), Microsoft (MSFT), Verizon Communications (VZ), Yahoo! (YHOO) Chipotle Mexican Grill (CMG), United Technologies (UTX), Boeing (BA) Coca-Cola (KO), Qualcomm (QCOM), General Motors (GM), McDonald's (MCD), Starbucks (SBUX), Amazon (AMZN), AT&T (T), Visa (V), Biogen (BIIB), AbbVie (ABBV), and VF Corp. (VFC).
Source: www.thestreet.com/st...gs-housing-data.html
Entry: 2130 (or better 2132)
Stop Loss: 2135
1. Target: 2116
2. Target: 2085
UPDATE, 3 DAYS LATER:
Both 1. Target and 2. Target hit, dead on :) Even exceeded it. Low today was 2076.6. (2. Target was 2085)
