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Apple's Optimism

The optimism surrounding AAPL is the optimism driving market values higher.  All time highs for numerous equities isn't dissuading the markets from going higher.

Everywhere you look the "talking heads" are bullish on the economy, jobs, housing, financials, etc., (well, almost everywhere).  ISM service numbers beat expectation and Pending home beat forecast as well.  The optimism is astounding and one wonders ( at least I do) if the uptrend will hit resistance. 

Since the "trend is your friend" you've gotta trade the bullish direction, however, prudence suggests hedging your bet.

Today, I initiated a Bear Call spread (stagnant to bearish) on RIMM contrary to the overall bullish trend as RIMM's move is earnings based.  Short-term expectation is that share value will remain below 70 for the next couple of weeks.  Sentiment is mostly bullish as per Put/Call ratios, but the investment community is wary of RIMM's future with the likes of AAPL and others providing state of the art smart phones.







Disclosure: Long on AAPL