AAPL has treated me fairly well the past two days. Yesterday it dropped to my dream buy price of 204. I was able to capture the move back up to 209. This morning I tweeted our best AM Idea was to buy AAPL on a pullback to the 209 level. Many traders on the desk took advantage of this opportunity.
As I sit at my desk looking at the two day chart it appears to me that AAPL was basically digesting its large reversal off of yesterday’s lows. If AAPL does break to the upside tomorrow look for it to trade up to at least 213. The key prices to watch will be 210.35 and 211. If it holds above 210.35 I am long and if it holds above 211 I am very long.
7 Comments on “A Bigger Move For AAPL Tomorrow?”
Thanks Steve,
Sometimes I have trouble seeing if something is holding above. I wait a little and then it pops fast. Or it pops 30c and then comes back to my price and then drops the level. This happenned about 4 trading days ago in AAPL at the 209 level.
Is it the confimation on the tape? I wasn’t able to pick-up anything on the tape that instance in AAPL. I just went by the level and ripped-up some.
Thanks Steve,
Sometimes I have trouble seeing if something is holding above. I wait a little and then it pops fast. Or it pops 30c and then comes back to my price and then drops the level. This happenned about 4 trading days ago in AAPL at the 209 level.
Is it the confimation on the tape? I wasn’t able to pick-up anything on the tape that instance in AAPL. I just went by the level and ripped-up some.
When the stock Gaps up like AAPL did do you tend to wait out the first 5 to 10 mins to let the opening order frenzy cool out?
When the stock Gaps up like AAPL did do you tend to wait out the first 5 to 10 mins to let the opening order frenzy cool out?
tao,
aapl is a tough stock for someone who doesn’t have a minimum of 1 years experience. many times it will do the above below a key level before making the real move. but on both thursday and friday the 209 level was very clean. on thursday it never dropped and provided a nice long opportunity up to 110.30. on friday when it dropped it provided a nice short down to 106.70.
steve
Flip,
It depends on the setup. If it is bouncing up and down in a 50 cent range I will take advantage of that range until it break. But it can be somewhat nerve wracking to deal with that level of fluxing for most traders.
In the case of AAPL on friday once it did calm down and break to the downside it was a very clean down move.
Steve