Wednesday, August 1, 2007

A Volatile Market for AAPL

In between having my butt kicked by CSS (customized style sheets, not CSS Industries which trades under the ticker CSS) I kept my eye on AAPL, which is up on the day and seemingly heading higher into the close. AAPL had a tumultuous couple of days, selling off about 7% yesterday (I wasn't in the market at all) on rumors of cuts in production, and recovering a little of it today. It needs to get back to around $143 to recover the ground it lost yesterday (as of this wrting at 3:57 EDT, it's ~134.85.

I thought about jumping in for some lunch money. Volatility is a day traders friend usually, but I just didn't have the mindset for it. These days if I trade I think about "how do I feel?" and "how do I want to feel?" When I see 1 minute swings like the one at 3:26 p.m. EDT, of over $1 in one minute what I thought was: "I feel calm, and right now, I'd prefer to remain feeling calm." So I didn't play.

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