I may just have to take a 1/2 position Put in AAPL here just because of how bad it looks, I really wanted to be patient and wait for a break out to short in to, but with a 1/2 position I can have coverage and add to on a breakout.
AAPL is unique in that it is the largest hedge fund holding, if hedge funds are needing to raise cash to meet redemptions, they have to sell positions, AAPL is their biggest and 89% of hedge funds can't out perform the SPX.
So as I have said many times with AAPL, there's a lot of funds in the room with huge positions, when the door starts to slam shut there will be a stampede to get out even if it is at a loss.
Here's AAPL today.
Remember this price pattern alone is a bullish pattern that traders will buy, more will buy a breakout above, we already saw the head fake shakeout below, the red trendline is where the upside breakout and had fake would be.
However even in to this minimal strength, the 1 min is showing distribution.
same w/ the 2 min
3 min
5 min, especially at the intraday highs.
15 min
And WOW-look at the move in the 30 min.
I try to be patient, but I have good signals here, I have a plan to leave room to add and lets face it, WE GET PAID TO TAKE RISKS, CALCULATED AND HOPEFULLY MADE WITH OUR HEADS, NOT EMOTIONS.
Is interest rates about to start going up?
-
Yes, I know - it does not make any sense - FED is about to cut
rates...but....real world interest rates are not always what FED wants it
to be.
5 years ago
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