Tuesday, October 9, 2012

AAPL Charts

 I never short initial breaks of H&S tops or almost any top, if we can't get in at something like the head where the risk is lower, I wait for the volatility shakeout that almost always comes after shorts enter on a break of an obvious top pattern like this. The move would need to be above the neckline and usually then some to shakeout the initial shorts that chased the move lower, that's where I'll be looking to unload the Calls and looking at short entries in non-leveraged equity short position.

 The 3 min chart continues to improve, not just today, but as a continuation from yesterday.

 The same is true of the 5 min chart at a new leading positive high above yesterday's.


And now even the longer term 15 min is positive.

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