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Tuesday, September 27, 2011

fyi... ibm, axp, aapl, qcom, fxe

IBM - I sold out of IBM due to its solid move, and is its trading at the high-end of my expectations for the next quarter earnings. If we are lucky to see it come down toward 170, I will purchase 170 calls on it. For now it has moved nicely, and I do not want to be greedy with it. Took my profits, and will wait for an opportunity.

AXP - Sold out this morning with the move, and its relative weakness. (That was driven by my active trader side. I will look to re-enter.) By the end of the year, I still think it will be near the mid 50s.  All its businesses are doing well, except it suffers from no EPS acceleration for the next two quarters.)

AAPL -  With AAPL trading below 430, there is no established expectations toward the next quarter's results.  As soon as they report next quarter's results, Apple will have a trailing PE of 15.5 with a stock price of 429.  There is a disconnect. Not worth selling here.

QCOM - Will sell half at mid 53-54. But will let the rest ride to 56-57.  There is just way too much momentum going into the next 3-6 months.

FXE - Will like to add to the puts if FXE sees 137. I don't know if we will see it, but that is what I am looking for.

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