Wednesday, December 5, 2012

AAPL Update

Here's one I wish I had kept puts open on, late yesterday I closed the last of the puts as I preferred a straight short position in AAPL as I believe it is going to move down, but the choppiness of that move could make puts a bit difficult to manage whereas a straight short would have less drawdown and no time decay, making a short there easier to manage.

Here's what AAPL looks like so far, do keep in mind that the longer term signals in AAPL are for a move much higher, but I do believe it can make a new low before that move higher begins.

 AAPL 1 min is nearly perfectly in line with price so there's short term confirmation of the move.

 The 3 min chart had already been leading negative, price has now just moved down to the 3C indication so there's confirmation there as well.

And this has been the longer term chart for AAPL, 10 min leading negative so I do think AAPL can put in much lower lows, but I do imagine we will see some very volatile chop that may require very fast action if you are holding puts.

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