Hi Raleigh, I sold some AAPL today and bought some CELG with the proceeds. I think there is somewhat of a rotation from tech into biotech. The Street is always looking for growth and as much as I've been an avid Apple lover, sometimes its time to redistribute your holdings. AAPL has become a value play imo and I do believe that some analysts may feel moreso after AAPL entered the dow index. It hasn't been as robust returns as those stocks going into the SP100. The late action in these stocks is very suspect however. Maybe some prearranged buy/sells? I'm thinking AAPL may move higher closer to the iwatch sale and ER a few weeks from now. Nice to see you here. I'm accustomed to seeing you on the GILD board. BTW, nice to see GILD move above its moving averages. The biggest challenge is whether it will hold. AAPL and GILD are a trip! GL
"Is it Tech Sector to BioTech sector rotation?"
FWIW, BioTech in general was essentially flat in the final minutes, so it was definitely CELGspecific.
SPDR S&P Biotech ETF (XBI) at 3:47: $223.60
SPDR S&P Biotech ETF (XBI) at close: $223.86
CELG at 3:47: $125.86
CELG at close: $128.50
In exactly the same period of time, 10 min before close:
2 Million CELG shares / 2% pps increase
12 Million AAPL shares / 2% pps decrease
Looking at the option chain it cannot be option pinning for CELG but it can be for AAPL.
But with a so large volume it cannot be option manipulation because it is too risky and demanding too much liquidity for any type of option writer , even for MMs.
Is it Tech Sector to BioTech sector rotation?
Or pure coincidence, but why exactly the same period of time?
Sentiment: Strong Buy
Well i was referring to the opposite of pinning, whatever that might be termed, for calls not puts. But i can't say i am an expert on such things. If i had March 125 call options i would have liked what i saw...(as it happens i own April 125s).
..I was thinking somebody manipulating the stock up so they could exercise options at a higher price at OPEX in the last minute of trading? Just a guess. Already back down a buck AH.
It built base for two months. Now its a breakout, and price is still at mid of the trading channels. It could go to $141 before hitting resistance.
I added as well. Big boys are going to have to gobble this up as its being added to the sp100 index. I expect to see some big blocks moving after the bell today. JMO