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Volatile Trading Follows Apple and Facebook Earnings


NEW YORK ( TheStreet) -- Earnings volatility began in afterhours trading on Oct. 28 when Apple (AAPL) beat EPS estimates but traded down to my annual pivot at $510.64 as some analysts nitpicked some details of the report. Then on Wednesday in afterhours trading Facebook (FB) spiked to my weekly risky level at $57.65, but this pop would not be sustained as the company reported lower use of the social network by teenagers.

On Oct. 28 I wrote A Closer Look at Apple, Google and 5 Really Big Stocks Over $200 where I provided my buy-and-trade guidelines for seven popular stocks that trade above $200 a share. Two of these stocks are trading above a grand a share.

On Oct. 29 I wrote General Motors and Facebook Headline Wednesday's Earnings and covered my buy-and-trade guidelines for nine stocks that reported their quarterly results last Tuesday and Wednesday. The bailed out auto maker traded to a new multi-year high on Nov. 1. Facebook had that volatile ride from above $57 in afterhours trading to below its 50-day simple moving average at $47.43 on Oct. 31.

On Oct. 30 I wrote Chevron, Exxon and MasterCard Headline Earnings where I covered another seven companies that reported quarterly results on Thursday and Friday. The headlined energy giants and Dow components had opposite market reactions. The first in the headline gapped below its 200-day simple moving average on Friday. The second in the headline popped above its 200-day on Thursday then faded on Friday.

Here's Today's Earnings Scorecard

Apple ($520.03) beat EPS estimates by 37 cents earning $8.26 a share in afterhours trading on Oct. 28. When you look at a daily chart for Apple you do not see the test of my annual pivot at $510.64, but buy-and-trade investors with a GTC limit order to buy at that pivot may have been filled at that price in afterhours trading. The trading range on Oct. 29 was up to $536.27 then down to $514.54. My weekly and monthly value levels for this hold rated stock are $494.18 and $490.51 with the annual pivot at $510.64 and semiannual risky levels at $620.84 and $621.46.

Con-way (CNW) ($40.96) missed EPS estimates by 4 cents earning 58 cents a share in afterhours trading on Wednesday. The sell rated trucker detoured to the woodshed as the stock plunged below its 50-day SMA at $43.47 to a low of $40.15 on Oct. 31. The 200-day SMA is $38.69 with a semiannual pivot at $41.77 and monthly risky level at $43.63.

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