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From: Trader J2/17/2012 12:28:57 PM
3 Recommendations   of 173513
 
I'm flat again with my trading Calls position. They'll walk this thing back down to $500 by EOD in my opinion unless their able to spike it. But given the volatility recently and the resistance here, I don't see that happening. Given the long weekend and the size of our recent move ... I'm more comfortable flat until next week.

Good luck all! Have a great weekend!

J

Edit: PS - Just hopped over to the thread that shall not be named and was very pleasantly surprised that they've been left all alone their to stew in their own misguided and subjective juices instead of riding the trend. Great to be sheep these days rather than the lone steer that jumps off a cliff by himself. Nice job all in not playing his/their games over there.

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To: Trader J who wrote (125914)2/17/2012 1:36:17 PM
From: Stock Puppy
1 Recommendation   of 173513
 
Just hopped over to the thread that shall not be named

OMG

You mean there's a Lord Voldemorthread?


Oh wait I said his name - I don't see menacing clouds.


Yet


Oh you mean the tank thread - oops I better shut up

You bought Apple shares? Bhwahahahahahaha!

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To: clean86 who wrote (125872)2/17/2012 2:01:44 PM
From: shlurker
   of 173513
 
and some way to micro-tax a transaction...

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To: Cogito who wrote (125883)2/17/2012 2:05:05 PM
From: shlurker
   of 173513
 
I think some companies do not give guidance

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To: Trader J who wrote (125914)2/17/2012 2:13:50 PM
From: Cogito
   of 173513
 
I'm sure you're correct that the close today will be close to 500.

I believe next week will bring a resumption of the advance, but without as much energy as we saw this week. Obviously, macro conditions could affect that. And I could just be wrong. It's rare, but it happens. :-)

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To: Cogito who wrote (125918)2/17/2012 2:28:09 PM
From: Keith Feral
   of 173513
 
Apple will be dominating the headlines next week. They have their Annual meeting next Thursday. Plus, Apple should be getting ready to have an event for the new iPad release, if they plan on a March release.

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To: Cogito who wrote (125918)2/17/2012 2:58:16 PM
From: Trader J
   of 173513
 
Well, the uptrend has entered a new phase for sure. That meteoric volume in the $520s is going to provide new resistance for sure, just as the $505 here has for the recent couple of days. A ton of volume at that $504-$505 level.

If not for the macro events going on, I'd be holding but entering this new trading phase on the heels of a huge increase in share price, I'm playing it more conservatively. I saved myself a LOT of money by selling out at $524 or so and I don't want to tempt fate again ... it's been a great week.

Three days is a long time to wait for a resumption of trading and I have to keep telling myself I can always get back in. I really don't like being out of my trading positions but at least I don't have to watch events overly closely over the weekend.

Cheers all.

J

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To: Keith Feral who wrote (125919)2/17/2012 3:05:56 PM
From: Trader J
   of 173513
 
I've been waiting for the annual meeting for a long time now. Was disappointed to see the docket but there will be plenty of excitement ahead of it. But ... for trading at least, once they start talkin' it's best to take your trading position and start walkin'

You just have to wonder whether they will sneak in or plan a below the line release of any information related to dividends, splits or other exciting announcements. That's always the risk with selling out as the meeting starts.

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To: Trader J who wrote (125921)2/17/2012 3:18:59 PM
From: Keith Feral
4 Recommendations   of 173513
 
I washed out some profits a couple days ago for my entire position which I was able to buy back a few points cheaper. I'm back into my core position at this point. There is no way that I will take a chance of being out of my entire position going into the Annual meeting. Base case, we get a dividend announcement. Best case, we get a stock split and a dividend announcement. Base case, stock goes back to $525. Best case, stock goes directly to $600.

I'm not sure why everyone got so freaked out about the move to $500. We all knew it was coming, it just caught everyone off guard that it happened so quickly.

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From: Road Walker2/17/2012 3:19:55 PM
   of 173513
 
Report: Apple Supplier Foxconn Raises Worker Pay at Chinese Plants


Foxconn Technology Group, the giant contract manufacturer under fire for working conditions at its Chinese factories where Apple's iPhones and iPads are assembled, has raised worker wages by 16 to 25 percent, Reuters reported Friday.

The Taiwan-based company, which has instituted three pay raises for its Chinese workforce since 2010, said in a statement that wages for junior level workers at its Shenzhen plant had been increased to 1,800 yuan a month, or about $285.

Workers who pass a technical examination are eligible for an additional increase of their monthly salaries to 2,200 yuan, or nearly $350, according to Reuters.

"As a top manufacturing company in China, the basic salary of junior workers in all of Foxconn's China factories is already far higher than the minimum wage set by all local governments," the company's statement said, according to the news agency. "We will provide more training opportunities and learning time, and will continuously enhance technology, efficiency and salary, so as to set a good example for the Chinese manufacturing industry."

Foxconn did not immediately respond to a request for comment.



The pay hike comes as the non-profit Fair Labor Association (FLA) this week began its tour of two Foxconn facilities in China at the request of Apple, which will be followed by inspections of the Chinese plants run by seven more components suppliers used by the iPhone maker.

Auret van Heerden, president of the FLS told Reuters earlier this week that he was impressed during his initial visits to Foxconn's facilities, calling them "first-class." But those comments were criticized by labor rights groups and even the FLA's number-two official, who said the initial report on Foxconn that FLA plans to publish in early March would detail more than just "first impressions" about working conditions at the plants.

Van Heerden's comments came just a few days into the FLA's inspection of Apple partners' facilities that kick off with a three-week tour of Foxconn's factories in Shenzhen and Chengdu, the latter of which experienced a deadly explosion last year that is believed to have been caused by improper ventilation of aluminum dust.

About 30 FLA staffers will tour the Foxconn facilities and conduct anonymous interviews with a third of the 100,000 workers who work and live at the two plants, seeking information on their living conditions, emotional well-being, and whether Foxconn's agents in the rural areas where many workers are recruited are acting responsibly in the hiring process.

Earlier this week, Apple chief executive Tim Cook assured the public that the company's leaders "care about every worker."

"We believe that every worker has the right to a fair and safe work environment, free of discrimination where they can earn competitive wages and where they can voice their complaints freely," Cook said at Tuesday's Goldman Sachs Technology and Internet Conference in San Francisco. "And Apple suppliers must live up to this to do business with Apple."

The iPhone maker has encountered growing criticism of its partners' labor practices in the past several weeks. A recent New York Times exposé detailed press gang-like working conditions and questionable safety practices at Foxconn's factories. Before his death last year, then-CEO Steve Jobs reportedly told President Barack Obama that it would be impossible to manufacture Apple products efficiently elsewhere.

In the wake of such reports, concerned Apple users launched petitions on the websites SumofUs.org and Change.org, calling for Apple to improve worker protections, increase transparency around the monitoring of its suppliers and make an "ethical" iPhone 5. Protestors recently converged on various Apple Stores, including the new one in Grand Central Terminal, to deliver the petitions, which garnered about 250,000 signatures.

Earlier this month, meanwhile, Taiwan-based Foxconn was hacked by a new group of so-called hacktivists and emails from its CEO were exposed.

For more, see A Foxconn Breakdown: Its Strengths, Strangeness, and Scrutiny as well as Foxconn Factories: How Bad Is It?

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