Thursday, November 15, 2012

AAPL Update

I haven't opened the second 1/3 partial long AAPL yet, but I think it's getting close.

Here's what the charts look like and what I'd really like to see now that we have the move solidly below the triangle, any shorts who wanted in based on that triangle are in.

 on an intraday basis the 2 min chart is already in good position, I want it in great position before adding to AAPL, I'd like to see another new high leading here-see blue arrow

 The 3 min is also in good position on this morning's action, I'd like to also see that move to a new high.

Finally the 30 min never really led positive until it hit that triangle, which is almost exactly how the June market reversal to the upside went down, it was positive at a bearish triangle, we waited for the break below, it stayed positive and June 4th below the triangle we opened and added to long and that was the absolute bottom, AAPL's 30 min chart is a LOT like that scenario.

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