Tuesday, October 9, 2012

AAPL Calls sold

Today's $630 calls were a decent little trade, but more exposure than I wanted in AAPL long so while there was a decent profit for the day and AAPL is losing some ground, I figured now is as good a time as any to lighten the exposure load to AAPL long, yesterday's Calls remain, doing much better now than earlier today at half the loss.

 A quick 22% gain today in the calls was worth it, I'd love to hold them for more upside, but I decided any long in AAPL was going to sty at a reasonable size and adding today's position to yesterday's was getting beyond the level of risk I'd be willing to tolerate.


 AAPL 3 min -you can see the intraday negative divergence after 3 pm that is sending AAPL lower right now intraday.

 The 10 min chart still looks pretty good with a higher leading high that yesterday even though prices are lower.

What I'd really like to see though is some bullish reversal candle like a hammer which is still in place now with the increased volume, this tends to work very effectively for reversals (to the upside-allowing yesterday's calls to make money and setting up a short at a better level).

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