AAPL (& NFLX)

AAPL (& NFLX) also show my very short term concern with entries, otherwise I'd be all over NFLX right now and yesterday I just had a strong feeling AAPL was weak enough it was going to turn in to a short, glad I closed the Long AAPL equity position.

As this is a VERY short term concern, it may actually be a blessing, it's Friday's op-ex timing that makes it difficult, the pin usually lasts until 2:30, after that most contracts are closed and the market goes off and does it's own thing, so the character can be very different.

Any other day and this would be a blessing and not a small concern.

 AAPL's 30 min has now broken down so bad it's a short for me , at least until it proves it's ready to continue a counter trend rally.

The 5 min chart (I had a feeling I should have shorted it yesterday) is perfectly in line with price.

The 1 min chart is showing the building of an intraday positive which would be good for an AAPL entry, 1 min is the early chart where new divergences first start (and most stocks have this happening like the averages I just showed you) so entering right now? Doesn't seem like a good idea and the question of whether after 2:30 these perhaps have built enough to get a late Friday ramp and early ugliness next week is the scenario I'm kind of both dreading and hopping for.

Like I said yesterday, good positions like this which could be setting up for an AAPL ramp and shorting in to strength are our highest probability trades (as long as they are confirmed), but also emotionally the most difficult and then you have the weekend to sweat over it

 In EVERY other timeframe NFLX is a screaming short right now, again it's these short charts like 1 min above suggesting a bounce up, is it before 2:30? After? That's the difficult part.

3 min is showing the same.

The good is I want to short in to price strength, the bad is I can't say whether this is a very small intraday divergence or building for a late day ramp. I'd prefer not have too much of a late day ramp, I'd like to see it end before 2:30, but it doesn't feel likely.

In any case, there are some great positions setting up, it's just more about the general weather conditions.