Friday, December 9, 2011

AAPL Trade Update

 Yesterday I posted AAPL and the likely head fake move that the triangle would produce as being a fairly low risk short entry, it played out as expected.

 This a.m. we have another small triangle and I would expect most likely a similar head fake upside breakout, which may be able to be used as another entry point on an AAPL short swing trade.

 The short term chart shows a small positive divergence suggesting a possible head fake move..

 However the longer term charts remain pretty negative- 5 min

The hourly chart is leading negative and near new lows below the recent lows in 3C/price.

I liked the set up in AAPL yesterday, perhaps we will see a similar set up today.

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