let's start with the chase into year end for those who didn't get the email...
Portfolio managers, thousands of them, are collectively taking this back to $700 by EOY to salvage their 2/20 for 2012. Having missed the runup through October on this and the many big growth stories, they got VERY short to slam the Oct/Nov rundown, and are now back to leveraged long to salvage the year. Simple stuff. ROFLOL
As for the $50-100/share Catalyst List, in no particular order except to say news is coming on all soon.
1. Smashing Guidance (historical practice)
2. Samdung/other Settlements (royalty fee annuity)
3. iTV Announcement
4. China Mobile Timing
5. Special Dividend before EOY
6. Huge Share Repurchase Plan Announcement
As articulated on the GNCR story, we have no concerns for the pros short this story -- they are either hedged or deserve to have their funds slammed with losses and redemptions. But we do feel bad for retail investors betting this is going to shakeout pullback more than peanuts again... even Grundlach cried uncle... seriously now, it must be hard to sleep being unhedged short on this story when it is trading at 8x EPS (net of cash effects) and there are so many upside catalysts coming through the windshield at any moment.
As for the little pullback yesterday? The pause that refreshes prior to AAPL taking the shares higher into EOY.
Sentiment: Strong Sell
Weekend reading for longs lol
look at the downside mf volume fade. the bottom is in and the reversal run back above $600 starts monday.
under the bus with the gumptard unhedged shorts. lol
The only problem with this list is that only the first one, smashing guidance, will have any imminent effect on the stock price, and even that probably won't start occurring until the last 10 days of December and into January. Why do you suppose Tim Cook is not more proactive in defending the stock's price? He could easily release a few hints about 2013, or announce a stock split, or any of a number of things to force another short squeeze.
and now that the iPhone 5 has approval for distribution in china, we can expect not only the other two carriers to get cracking, but the China Mobile announcement any day or week now.
Amazing to think how stupid one needs to be to remain unhedged short here just now. Then again, some guys ski down known avalanche drops, and others go cliff diving with guys stoned out of their minds packing chutes for them. Then you have the guys driving experimental jet cars 700mph on the Bonneville Salt Flats. It really does take all kinds... but no one with an IQ above 90 would be able to sleep staying unhedged short here if they understood why the hedge funds are on the buyside now. Even Grundlach called "uncle" as he rang the gong on his blown $425 "forecast."
lame selloff on retail volume this morning (after even dumber premarket selldown) saw full reversal today, most of it prior to the Boehner comments.
AAPL is headed back to $700 before the january earnings call friends. Get your tickets early for the ride.