Apple (AAPL) sold 5 million iPhone 5s in the first weekend, which was below expectations.  Apple has struggled to manufacture enough phones to meet demand.  APPL stock is trading down on the news, which seems a bit ridiculous.

Home building stocks are up this morning on news that Lennar (LEN) beat earnings and revenues.  New orders are up 44%.

German business confidence index fell to 101.4 for September from 102.3 in August.  It was at 110 in April.  Apparently, the European Central Bank’s announcements haven’t boosted confidence.  A Dutch manufacturing confidence index also turned more negative.

This is the last week of the third quarter.  We expect funds to buy on weakness and it is likely that we will see some stocks market-up on Friday.  Our market sentiment indicator continues to be bullish and we are buyers on weakness.

In Liberty Global (LBTYA), there was a buyer of 25,000 Jan 60 calls.  This was 100x normal volume.  The at-the-money implied volatility is at a 52 week low and the stock is at a 52 week high.

In Tech Data (TECD), there was an opening buyer of the Oct 55 calls 1,000 times.  This was 11x normal.

In Transocean (RIG), option market makers are positioned for an upside move.

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