Friday, April 27, 2012

AAPL Update

 AAPL in the target zone, I would like to add here, but only on higher prices or a clear break.

 AAPL 60 min need no commentary.

 The 30 min trend is negative as well, these are the longer term trends that we expect from AAPL

 The 15 min chart went positive before earnings, with tech and the NASDAQ 100, it's still holding up so I think there's still a chance to add to AAPL at higher prices, especially if the market can hold here, even if only in a consolidation.

 Here's what took place on AAPL's move higher as expected.

 Very short term intraday charts have some positive divergences suggesting 1 more move higher in AAPL-this is a 3 min.

And the 1 min.

Patience has been the key with AAPL, shorts who entered on the break below support at 4/23-4/24 are likely not too happy right now, this is why we wait for the trade to come to us. So as hard as it can be, patience with AAPL and any other trade as well as letting it come to you are really key. The earlier shorts were right on AAPL's longer term trend change coming, but they likely couldn't withstand the draw down. The break of support and shakeout after have been a long standing trend in the market, if you play by the old rules of trading you get burnt. If you are patient, which is not always easy, you get the good positions. Look at our entry in BIDU, we waited for the head fake move, waited some more, shorted at a great place and the position is in the money.

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