Used the daily chart to see that $AAPL was coming down to its 20 day moving average 38.2 retrace, so I played the bounce or fail. It is important to also note, that Apple tanked early today some crap report by JP Morgan that Apple was slowing down production in China. Some things of note about this: 1. Analyst said he expected no impact on sales 2. The fact that Apple had just announced new plant in Brazil 3.The fact that Apple had UPPED its production in order to meet upcoming Holiday demand. This is an example of the Big Boys manipulating the stock in order for them to buy cheaper. LESSON: AVOID THE NOISE!
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On the 5 minute chart I highlight my thoughts throughout the day as I traded $AAPL, netting nice gains along the way, securing profits, and swinging a piece.
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I am also Long $AAPL via Oct 22 395 @ 17.70 Calls. I sold 3/4 of these today that I picked up near the bottom and let them go for a small gain @ 18.10, but I will swing 5 Calls into earnings with the upcoming Presser on Oct. 4 were one would assume $AAPL is unveiling its new Iphones (yes plural IPhone 4s and IPhone 5 i believe), so I think this stock can really run and in my opinion challenge its previous Highs.
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ReplyDeleteintersting - it expands on my end- will look into it. Thank You for bringing it to my attention.
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