How I’m trading Apple now that it’s reported

Guys I might have guessed right about how both Apple and Intel were going to trade after reporting tonight, along with a few other calls like that lately, but let’s just all remember here that trying to game overnight reactions to individual reports like this can be treacherous. Tread lightly on these types of trades. You know that I do.

So anyway, here’s my update on how to trade Apple after this earnings report. First, let’s be honest here — the report sucked.

I think, as I’d noted repeatedly earlier today here on TradingWithCody for you guys, that most analysts and investors were overconfident about the upside potential of the earnings report vs what expectations had grown to be.

Now with a new CEO that, despite being terrific as an executive and all, is simply “Not Steve Jobs”, here’s another catalyst to sell. For the near-term at least. I’m going to sell a little bit more of my common (recalled that I’d written here on TradingWithCody.com last week that I was selling down Apple already) after hours here.

I’ll hold my long-term core position of Apple steady and I recommend, as I have since the stock was at $7, holding the core position. But I don’t like the near-term set up here for AAPL.