Tuesday, October 29, 2013

AAPL Follow Up

I'll post the P/L later, it was a slight profit, but that wasn't the point. I hope I didn't get skunked on that call, but I think maybe not, I still have the same price alerts and AAPL bottomed on a positive divegrence and rising volume, a pretty reliable indication of a reversal, I wonder if it was a stop run first?
 This was the earlier positive divergence that lasted most of the day, after seeing that IWM intraday positive take off, I took this one more seriously, thus closing the Put. The gap up on the open was distributed in to as well.

 A longer 3 min shows AAPL in line so I'm thinking this might be as far as today's divergence went, if so, then a move to the upside as I mentioned in the AAPL correction would be a choice entry for a put position.

 Here;s the volume so this does look like a stop run...

There's intraday support, volume as stops are taken out, an easy place to accumulate on the cheap in some size for a bounce (intraday or so).

I'll wait and see if the set up comes to me, if so great, of not there's another bus.

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