Wednesday, October 17, 2012

AAPL UPDATE

the negative divergences in the market are doing their job, at minimum they should cause a consolidation, that can be through price or time, I'd like to see AAPL and the market pullback through price to set up new positions, thus far though it has been through time.

If I had time today I'd probably open a small November Call option, VERY small allowing me room to add to it on the pullback I'd like to see, but something to have some coverage there.

AAPL in 4 charts...
 3 min negative has thus far caused a lateral consolidation.


 The 30 min is still very positive, or at least it has a large enough divergence to send AAPL much higher than we have seen and that is what we expect.

We do have a 10 min negative leading divergence, if this doesn't pull AAPL down by tomorrow, I have to think sideways consolidation is all we get before another leg higher.

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