Took a half a day at work today (got a Dr appointment at 1140am so I took the morning off). Watching the tick-by-tick on my collection of stocks, and it is so soothing.
1. Apple's action is by far the most frustrating at the moment. (It has a 'money-pit' status on my portfolio again.) Normally I would just sell it, and be done with it, but I know the company too well. The action does suggest a draw to the 330 level. Basically, everyone knows the upside and downside, and the action is just 'blah'. Upside will develop when the earnings report gets closer because they will crush estimates, again, and the short know it so they will look to cover before then. Down-side can develop at anytime, especially if we hear something negative about Steve. In the mean time we are in the Summer of Discontent.
2. ATI looks really interesting today. The action does not suggest 62 (or 62.19) will be breached. If I get the opportunity today, I will most likely enter (an initial entry) when ATI is at low 62. I will purchase a few (2-3) 65 Oct 2011 calls. However, I will be active trading it.