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By: Adam Stone
May 6th 2014 5:10am GMT, London UK

US equity markets eked out a positive day, probably due to partly on the rise of Apple stock which broke 600 yesterday. The latter is probably the more interesting story of the two, but the truth is that US stock markets closing the day in positive territory is the more important of the two stories. Sure, the break higher of the largest company on earth is a massive story and it just gets more intriguing as you dig further into it. The stock (AAPL) is fundamentally strong but the recent rise in the stock price is primarily being attributed to the sales (and future sales) of iPhones and not the company’s other essential products.

For binary options traders, this could spell trouble as the fundamental outlook isn’t as enticing as the technical one which is why we’ve been standoffish as it pertains to this stock. But we can’t sit idly by any longer. The economics behind the stock’s rise are surely iPhone based and with the possibility of a release of the new iPhone 6 in September, or possibly October, the market is already starting to get into frenzy mode in May.

AAPL with binary options 6-5-2014

While a long stretch of time between now and then, it’s very clear that Apple’s earnings report which exhibited the overwhelming reliance on the iPhone’s sales, is ok amongst analysts and obviously investors alike. With such a drop in iPad sales, one would wonder how this could be, but the company in the last decade is all about the iPhone and innovation and sales are expected there and only there. Once that sector is solidified and shows strength, analysis are of the belief that the other products will just sell themselves as the niche market status of Apple products is a myth long ago dispelled.

For binary options, iPhone sales may seem out of sync with immediate technical results for the stock which have been incredible. It’s really been break after break for the stock. Since the gap formed on the 25th of April, the stock has broken 3 key levels and will likely continue now that the top of the gap acts as a very strong support level for the stock.

Looking at the stock and the market in general today, we are of the belief that up is the way and a break above 601 will lead binary options traders into the fray with up options. While volume on the stock was rather low yesterday, Eduardo Castillo of the Goptions dealing room believes that there’s no stopping the stock. He explained that “while the break yesterday didn’t lead to much volume on binary options, today will certainly be different. A conclusive break above 601 and some follow through will lead binary options traders to become believers and get into the best performing blue chip stock of 2014. We are strongly recommending adding AAPL to your watch list today”.

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Adam Stone
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Adam Stone

As COO of GOptions, my first and foremost goal is to provide traders with the most up to date info from the markets. I have been trading the markets since 2004 and have been involved with stocks, binary options, and forex trading since then. I have had no formal market education and pride myself on a self taught approach to everything related to trading. I try to focus though on both the technical and fundamental aspects related to each trading day and bring forward the most important aspects of risk/reward in the market.
Adam Stone
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